Uber uses what is known as surge pricing to set prices based on the number of people who request rides at a given time in a given area. Based on this pricing method, prices will
A) fall when supply decreases. B) rise when demand decreases.
C) rise when supply increases. D) rise when demand increases.
D
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Refer to Figure 6.1. Suppose the economy is originally in steady state at k*1. If the saving rate increases from s1 to s2, the capital-labor ratio will begin to ________, and real GDP per worker will ________
A) rise; rise B) rise, fall C) fall, fall D) fall; rise
Economies of scope is when a firm obtains a production advantage from producing more than one product
Indicate whether the statement is true or false
The Single European Act set steps to accomplish monetary union in the European Union, including the creation of the euro.
a. true b. false
According to economists, investment includes:
A. Production of plant and machinery. B. Purchasing or hiring factors of production. C. Purchases of corporate stock. D. Money put into a pension fund