How would an increase in prices in retail stores change the real value of the money you earn as wages?
What will be an ideal response?
The real value would decrease.
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If a project costs $3,500 today and pays a return of $4,200 next year, what is the highest interest rate at which the project should be undertaken?
A) 7 percent B) 14 percent C) 20 percent D) 70 percent
Scarcity means that there is less of a good or resource available than people wish to have
a. True b. False Indicate whether the statement is true or false
Robert must always have sugar in his coffee. For Robert, the cross price elasticity of demand for coffee and sugar is
A) equal to 0. B) negative. C) positive. D) impossible to determine without more information.
Incumbents are unaffected by fixed costs of entry while potential entrants are affected by them because
A) for potential entrants the cost is avoidable, while for the incumbent, it is not. B) fixed costs will be greater for the potential entrant than for the incumbent. C) fixed costs are zero for the incumbent. D) incumbents will act to prevent entry at all costs.