The practice of selling a product to retailers and requiring the retailers to charge a specific price for the product is called
a. fixed retail pricing.
b. resale price maintenance.
c. cost plus pricing.
d. unfair trade.
b
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In the LM curve, the __________ the interest-sensitivity of liquidity preference, the __________ the necessary increase in the rate of interest to restore equilibrium
A) greater; smaller B) greater; greater C) smaller; smaller D) None of the above.
Which of the following statements best defines private costs?
A) They are internal in the sense that the firm or household must explicitly take them into account. B) They are costs borne by people other than those who commit the action. C) They are synonymous with social costs. D) They represent explicit costs incurred by business firms in the private sector.
The Navigation Acts
a. placed tariffs on the import of British goods by the colonies. b. provided for the free trade of colonial goods, including tobacco, indigo and sugar. c. required all colonial trade to be carried on English vessels. d. were abolished in 1700.
The FAIR Act of 1996:
a. was invented to provide a transition period for farmers to move from government-subsidized farming to free market farming b. succeeded in removing the government from farm markets c. both of the above d. neither of the above