Real per capita GDP in the United States in 2012 was approximately:
A. $13,300.
B. $39,800.
C. $43,900.
D. $13.3 trillion.
C. $43,900.
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The practice of buying a firm's good in one market at a low price and selling it in another market for a higher price in order to profit from the price difference is known as
a. Predatory pricing b. Price collusion c. Arbitrage d. Mark-up pricing
Which of the following statements about Food Service Contractors is correct?
a. Delaware North has the largest market share within its industry.
b. Compass Group, Aramark, Sodexo, and Delaware North are the only firms in the
industry.
c. Sodexo’s sales account for 32.8 percent of the industry’s total sales.
d. Compass Group, Aramark, Sodexo, and Delaware North are the four largest firms in
the industry.
Nepalese villagers sell their kidneys as a way to earn much-needed money. Unfortunately, although the demand for such kidneys in developed economies is high and the medical facilities are available to conduct kidney transplants, the selling and buying of organs is illegal. What idea from Chapter 1 of the text does this situation best illustrate?
A. Marginal revenue should equal marginal cost. B. Social and political forces sometimes rein in market forces. C. Sunk costs do not matter in making decisions. D. Microeconomics and macroeconomics are very much interrelated.
Interest rates are higher the
A. larger the amount of the loan, holding other things constant. B. shorter the duration of the loan. C. greater the risk. D. lower the inflation rate.