The demand for a particular brand of clothing is likely to be less elastic than the demand for all clothing.
Answer the following statement true (T) or false (F)
False
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You offer an extended warranty for your product that is purchased by a few customers. If the product typically fails 2% of the time,
a. you should price the warranty at less than 2% of the product price b. you should price the warranty at exactly 2% of the product price c. you should price the warranty at more than 2% of the product price d. Cannot tell from this information
As the level of real GDP increases, the short-run aggregate supply curve:
a. shifts to the right. b. shifts to the left. c. becomes flatter. d. becomes steeper. e. becomes horizontal to the real GDP axis.
A competitive firm sells 100 units of output for $5 per unit. The firm's marginal revenue amounts to __________
Fill in the blank(s) with correct word
The Fed's strategy of increasing the money supply and lowering interest rates in order to increase real GDP is called
A. Contractionary fiscal policy B. Expansionary monetary policy C. Expansionary fiscal policy