If a particular bank regularly announces changes in its interest rate schedules before its competitors, who then set rates very close to those announced by that bank, this could be described as:
A. Markup pricing
B. Predatory pricing
C. Price leadership
D. Explicit price collusion
C. Price leadership
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Expansionary monetary and fiscal policies are designed to move the economy in Figure 17.1, in the short run, from point
A. D to point B. B. D to point C. C. A to point D. D. C to point B.
Jay owns a classic car he purchased for $50,000. At a car rally a knowledgeable classic car enthusiast offers him $75,000 for the car. Based on this information:
A. Jay's wealth is unchanged. B. Jay's saving this year has increased by $25,000. C. Jay has experienced a $25,000 capital gain. D. Jay's saving this year has decreased by $25,000.
Refer to Table 7.1. What is the average product of the 4th worker?
A. 4 units of output
B. 3 units of output
C. 16 units of output
D. 6 units of output
Suppose you are the manager of Sweet Aroma, a firm that specializes in air freshener. To make your air freshener, you purchase apple skins from apple juice manufacturers. If the demand for apple juice decreases, this will cause the production of apple skins to ________ and the price of apple skins to ________.
A) decrease; rise B) increase; rise C) decrease; fall D) increase; fall