Cross elasticity of demand compares the change in the
a. price of one good that is generated by a change in the price of another good
b. quantity demanded of one good that is generated by a change in the price of another good
c. price of one good that is generated by a change in quantity demanded of another good
d. quantity demanded of one good that is generated by a change in the supply of another good
e. quantity demanded of one good that is generated by a change in quantity demanded of another good
B
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Which of the following is not an advantage cost-plus pricing?
A) It leads to profit maximization. B) It could lead to price stability if the industry is made up of identical firms all using the same method of pricing. C) It is an easy method to implement if a firm produces multiple products and has overhead costs that are difficult to allocate to a particular good. D) It is easy to justify price increases when total costs of production increase.
With the creation of the Federal Deposit Insurance Corporation, member banks of the Federal Reserve System ________ to purchase FDIC insurance for their depositors, while non-member commercial banks ________ to buy deposit insurance
A) could choose; were required B) could choose; were given the option C) were required, could choose D) were required; were required
The federal agency that regulates the New York Stock Exchange is the
a. Securities and Exchange Commission b. Department of Justice c. Department of Commerce d. Federal Reserve Board e. Department of the Treasury
Susan Sneed gave up her $55,000 job at ACC, Inc to return to college to change careers. She reduced her wardrobe to cheaper jeans and t-shirts, paid $5,000 in tuition, continued to make her family's $1,200 per month home mortgage payments, and bore the burden of a variety of inane comments about the stupidity of older students giving up good paying jobs to return to school. Which of the above
items is not needed to determine the opportunity cost of her return to college? a. her $55,000 ACC, Inc. salary b. the altered wardrobe costs c. the $5,000 tuition expense d. her family's $1,200 per month mortgage expense e. psychological stress from inane comments