A larger interest rate spread in 2003-2006 is one of the factors that led to the recession of 2007
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose a 10% increase in the price of aspirin leads to a 5% decrease in the quantity demanded of aspirin. The demand for aspirin, therefore, is
A. unit elastic. B. perfectly inelastic C. inelastic. D. elastic.
What is a natural monopoly?
What will be an ideal response?
Which of the following would be expected if the tariff on foreign-produced shoes were decreased?
a. The domestic price of shoes would fall. b. The supply of foreign shoes to the domestic market would decline, causing shoe prices to rise. c. The number of unemployed workers in the domestic shoe industry would decline. d. The demand for foreign-produced shoes would decrease, causing the price of shoes to increase in other nations.
The pricing strategy in which one firm is allowed by its rivals to establish the market price for all firms in the market is called
A. Overt collusion. B. Price-fixing. C. Pattern pricing. D. Price leadership.