It is not possible to have a comparative advantage in producing a good or service without having an absolute advantage
Indicate whether the statement is true or false
FALSE
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Over the past several decades, technological change has led to a significant amount of consolidation in the U.S. brewing industry
Indicate whether the statement is true or false
What happens in a duopoly if both firms try to act as the Stackelberg leader?
What will be an ideal response?
Because increases in input prices eventually make it to consumers when they buy the final product, the PPI:
A. is considered a good predictor of future consumer prices. B. is a lag variable for inflation. C. accounts for inflation before it reaches consumers, adjusting the CPI downward. D. accounts for inflation before it reaches consumers, adjusting the CPI upward.
Which of the following events would likely cause the largest reduction in current consumption?
A) a permanent reduction in annual salary of $2000 B) a one-time tax increase of $4000 C) a one-time reduction in income (e.g. a bonus) of $4000 D) both B and C