A shift of the demand curve for thin-crust pizza would not be caused by a change in:
What will be an ideal response?
the price of thin-crust pizza.
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Why do economists measure responsiveness of demand to price in percentage changes rather than in absolute changes?
What will be an ideal response?
High inflation can spiral out of control when
A) expected inflation increases nominal interest rates, causing the Fed to buy bonds, increasing the money supply and further increasing inflation. B) expected inflation decreases nominal interest rates, causing the Fed to buy bonds, increasing the money supply and further increasing inflation. C) expected inflation increases nominal interest rates, causing the Fed to sell bonds, increasing the money supply and further increasing inflation. D) expected inflation decreases nominal interest rates, causing the Fed to sell bonds, increasing the money supply and further increasing inflation.
A firm will practice price discrimination when it believes that by doing so it will be able to increase total
A) sales. B) revenue. C) profits. D) production.
Economic rent refers to profit derived from owning real estate.
Answer the following statement true (T) or false (F)