The problem with efficient component pricing is that it can invite entry that is inefficient
Indicate whether the statement is true or false
F A major advantage of efficient component pricing is that it discourages inefficient entry.
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The NBER describes a recession as
A) "a decrease in the standard of living for at least one year." B) "a decrease in potential GDP for at least six months." C) "a one year period with increases in the unemployment rate." D) "a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year." E) "a decrease in real GDP for two successive quarters."
The private sector surplus or deficit equals
A) saving minus investment. B) net taxes minus government purchases. C) investment minus saving. D) government purchases minus net taxes.
When consumers are less confident about their jobs or incomes, they are more likely to
A) reduce purchases of durable goods than nondurable goods. B) increase consumption spending and decrease investment spending. C) reduce purchases of nondurable goods and increase purchases of durable goods. D) increase investment spending and decrease consumption spending.
Firm's should raise the price of their goods
a. If the demand for the product is elastic b. If it acquires a firm selling a complement good c. If it acquires a firm selling a substitute good d. Both a and c