If the menu cost theory is true, then firms that change prices less frequently than other firms are likely to be in
A) more competitive industries.
B) service, rather than manufacturing, industries.
C) growing, rather than declining, industries.
D) less competitive industries.
D
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Compounding is:
A. the process of accumulation of additional interest paid on interest that has already been earned. B. the process of adding the percentage of interest times your initial principal yearly. C. the process of deposits steadily increasing a set amount annually. D. None of these statements is true.
A person who is counted as "unemployed" by the Bureau of Labor Statistics
a. is also in the labor force. b. must have recently looked for work or be on temporary layoff. c. must be at least 16 years old. d. All of the above are correct.
A shift in the demand curve means which of the following?
a) a change in demand at every price b) a rise in prices c) a decrease in both price and quantity demanded d) a change in consumer income
What's the rule: Monopolists charge a higher markup when demand is highly elastic or when it's highly inelastic?