The general rule to increase profits when two close complementary brands are jointly owned is
a. Increase prices for both brands
b. Decrease prices for both brands
c. Increase prices on one brand, decreasing it for the other
d. Increase prices on one brand, keeping the prices of the second brand constant
b
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Everything else equal, an appreciation of the dollar will:
A) cause the net exports of the U.S. to increase. B) cause the U.S. GDP to fall. C) not affect U.S. GDP. D) cause the U.S. GDP to increase.
Budget maximization results in a budget equal to that desired by the median voter
a. True b. False
Technological change moves the economy upward along the existing production function, thereby increasing productivity and living standards
a. True b. False
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.