By focusing the customers on the price of a product, you
a. Increase your chances of engaging in a price war with your competitors
b. Make the customers more price sensitive to the product
c. Make the demand for the product more elastic
d. All of the above
d
You might also like to view...
The velocity of money is defined as: a. the time it takes the average worker to get to the bank with his/her paycheck
b. the time it takes banks to clear checks. c. the average number of times per year each dollar is used to purchase final goods and services. d. the ratio of money supply to the average price level in an economy. e. the average number of times per year each dollar is spent for goods, payrolls, Social Security payments, etc.
If the Fed wishes to maintain its interest rate target in the face of decreased money demand it would likely
a. increase the money supply. b. decrease the money supply. c. more stringently enforce already existing banking regulations. d. propose new banking regulations. e. become more lax when it enforces already existing banking regulations.
Along the horizontal segment of the aggregate supply curve, when real GDP
a. increases, the price level rises b. decreases, the price level falls c. increases, the price level does not change d. increases, the price level falls e. decreases, the price level rises
Total utility can be objectively measured in numbers that indicate usefulness or benefit to the consumer
a. True b. False Indicate whether the statement is true or false