While the short-run Phillips curve is upward-sloping, the long-run Phillips curve is downward-sloping
Indicate whether the statement is true or false
false
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Answer the following statements true (T) or false (F)
1) Managers can reduce production or delivery costs by keeping an inventory of the goods they produce or sell. 2) Managers incur opportunity costs from holding goods in inventory. 3) The cost minimizing inventory sets the marginal benefit of increasing the order size equal to its marginal cost. 4) In most cases, the cost-minimizing order quantity depends on the variable cost per unit of ordering. 5) The optimal order quantity and the optimal inventory level increase as the cost of carrying a unit in inventory increases.
Creditors supply loans to sole proprietors at a high rate of interest because of:
a. their low profit expectancy from this business. b. frequent experience of loan default. c. their inability to call in their loans or sell them to others. d. their general risk-averse nature.
Intraindustry trade can lead to lower prices and job creation in both the exporting and the importing nation
Indicate whether the statement is true or false
A 2 percent rise in the price of a good leads to a 6 percent decrease in quantity demanded. The absolute price elasticity of demand is
A. 1.2. B. 6. C. 0.3. D. 3.