If Luxury Spas, Renew Spas, and Relax Spas are all competing in the spa market and Relax Spas consistently is the first to change prices, Relax Spas might be ________.
A) signaling to the other firms to consistently raise their prices
B) offering to be the price leader
C) signaling to the other firms to consistently lower their prices
D) signaling to the other firms to consistently maintain their prices
B) offering to be the price leader
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Data on output and aggregate expenditure in Macroland are given below.Output(Y)Aggregate Expenditure2,0002,3003,0003,2004,0004,1005,0005,0006,0005,900Based on these data, the short-run equilibrium level of output is:
A. 3,200. B. 2,000. C. 5,000. D. 4,100.
The effect is exactly the same as the multiplier for intended investment that we discussed in Chapter 9
What will be an ideal response?
Describe the relationship between average variable cost and marginal cost
Which of the following types of countries has experienced decreasing inequality in recent decades?
A. Rich countries B. Countries with low economic growth C. Countries with high economic growth D. None of these has experienced decreasing inequality.