The savings function tends to ____________________ during and shortly after a recession.
Fill in the blank(s) with the appropriate word(s).
increase
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Economic growth in Cuba has been slow. What can best explain the slow growth?
A) lack of incentive mechanisms and economic freedom B) lack of economic resources C) labor productivity is low. D) too much competition within the economy E) a non-democratic form of government
Business practices affected by the Clayton Act fall into each of these categories except which one?
A) price fixing B) conditional sales C) mergers D) price discrimination
Which of the following is an example of product differentiation based on the intangible aspects of a product?
a. An electronic company advertising its new range of slim smartphones b. A consumer durables company advertising its number of years of operation c. A car mechanic opening his new workshop near a busy highway d. An electronic company offering a warranty of 2 years for its air conditioners
Refer to the data. Suppose quantity demanded increased by 12 units at each price, changing the equilibrium price in a direction and an amount for you to determine. Over that price range, supply is:
A. perfectly elastic.
B. perfectly inelastic.
C. elastic.
D. inelastic.