There are profit opportunities in a thin market because the gap between what a buyer is willing to pay for a true plum and the amount a plum owner is willing to accept is large.
Answer the following statement true (T) or false (F)
True
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Nominal GDP was $12.1 trillion and real GDP is $11 trillion. The GDP price index is ________
A) 90.1 B) 121.0 C) 1.10 D) 91.0 E) 110.0
Reliance on expert opinion to predict consumer behavior has the advantage of being a relatively low cost approach to gathering information. In many situations, however, it is subject to several sources of bias that can undermine its reliability
Indicate whether the statement is true or false
The behavior of historical cost curves says nothing about the cost advantages or disadvantages of a single large firm
a. True b. False Indicate whether the statement is true or false
Which of the following could explain the changing gap in income between unskilled and skilled workers in the United States?
a. International trade has decreased the domestic demand for skilled labor and increased the domestic demand for unskilled labor. b. Certain technological changes such as the introduction of computers have increased the domestic demand for skilled labor and decreased the domestic demand for unskilled labor. c. Both a and b are correct. d. Neither a nor b is correct.