Fill in the blanks. Which of the following has been found by researchers in surveys of consumers? Most people consider it _________ for firms to raise their prices following an increase in costs ____________ to raise prices following an increase in demand.
a. fair; and fair
b. fair; but unfair
c. unfair; but fair
d. unfair; and unfair
b. fair; but unfair
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In understanding the differences of the impact of globalization on inflation in various nations it is important to consider
A) the degree of development in a nation. B) the structure of income taxes in the country. C) the degree of central bank independence. D) all of the above.
Some oil refineries were damaged by Hurricane Ike of 2008, leading to
A) a decrease in supply of gasoline. B) a decrease in quantity supplied of gasoline. C) a decrease in demand for gasoline. D) a decrease in quantity demanded for gasoline.
Many spouses complain that their partners put less effort into their relationship after getting married. This is an example of
a. Moral hazard b. Adverse selection c. Terrible husbands d. None of the above
If there is a shortage of loanable funds, then
a. the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is above equilibrium. b. the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is below equilibrium. c. the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is above equilibrium. d. the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is below equilibrium.