The absolute price of a commodity is the amount of
a. other goods that must be sacrificed in order to purchase one unit of the commodity.
b. resources required to produce one unit of the commodity.
c. currency needed to purchase one unit of the commodity.
d. time and effort used to develop a market for the buying and selling of the commodity.
c. currency needed to purchase one unit of the commodity.
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Sandra wants to purchase a Nitro scooter from the only Nitro dealer in town, but the dealer will not sell her the scooter unless she also purchases an extended warranty for $1,000
Sandra does not want to purchase the extended warranty from the dealer because she knows she can purchase the exact same warranty from her insurance company for $500. In this instance, the Nitro dealer appears to be violating one of the provisions of A) the Sherman Act. B) the Clayton Act. C) the Federal Trade Commission Act. D) the Robinson-Patman Act.
When a country's currency is devalued
A) output decreases. B) output increases and the money supply decreases. C) the money supply decreases. D) output decreases and the money supply increases. E) both the output and the money supply increases.