Menu costs:
A. increase during recession.
B. decrease during recession.
C. are the costs to firms of changing prices and communicating them to customers.
D. are sunk costs and therefore should be disregarded.
C. are the costs to firms of changing prices and communicating them to customers.
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The wage rate is the price of a unit of labor. What happens to the quantity of labor supplied if the wage rate increases?
A. It increases. B. It decreases. C. It does not change. D. Uncertain-economic theory has no answer to this question.
The total payment to a lender for a one-period simple loan is
A) (P + i)n. B) P + i. C) i(1 + i). D) P(1 + i).
There are significant technological barriers to entry that help make the automobile industry oligopolistic
a. True b. False Indicate whether the statement is true or false
Hyperinflation is
A. inflation calculated using new technology. B. inflation calculated based on the CPI model. C. a very rapid increase in prices from year to year. D. a moderate increase in prices from year to year.