Gigantic Corporation follows a strategy of waiting for rivals to innovate, then quickly imitating any successful innovations. This behavior is known as:
A. collusion.
B. an entrepreneurial strategy.
C. a fast-second strategy.
D. pricing the demand curve.
Answer: C
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Which of the following decisions are complicated by the value of money changing over time?
A. Buying a $100 concert ticket B. Buying a $100 blender C. Buying a $100 sweater D. Buying a $100 stock
When the economy is in short-run equilibrium,
A) there are increases in inventory. B) there are decreases in inventory. C) total expenditures equal total production. D) people want to buy more than will be produced.
Government waste implies that the public sector is not producing as many services as it could with the resources at its disposal.
Answer the following statement true (T) or false (F)
Inflation can be measured by the
a. change in the consumer price index. Inflation in the U.S. has averaged about 2.5% over the last 80 years.
b. change in the consumer price index. Inflation in the U.S. has averaged about 4% over the last 80 years.
c. percentage change in the consumer price index. Inflation in the U.S. has averaged about 3.6% over the last 80 years.
d. percentage change in the consumer price index. Inflation in the U.S. has averaged about 4% over the last 80 years.