Used car dealers are able to make a profit by buying used cars at a low price and selling them at a higher price because
a. they sell lemons
b. they can take advantage of unsuspecting consumers
c. they are attempting to maximize their profits
d. the transaction costs to some buyers is less than it would be without the used car dealers
e. there are no transaction costs associated with the process of buying a used car
D
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Inflation targeting was initiated by which central bank in 1989?
A) U.S. B) Japan C) Canada D) New Zealand E) U.K.
Explain how deficit spending can benefit future generations
What will be an ideal response?
The rule of 70 provides an estimate of: a. how long it will take for a nation's economy to double in size. b. the growth rate of a nation's gross domestic product per capita. c. the level of a nation's foreign reserves
d. how long it will take for a nation's population to triple in size.
Refer to the accompanying figure. Relative to point B, at point C this restaurant is:
A. making fewer pizzas and more salads. B. operating more efficiently. C. making more pizzas and more salads. D. making more pizzas and fewer salads.