What is one reason suppliers might offer a discount for quantity purchases?
A) reduced storage costs
B) lower marginal cost
C) lower marginal benefit
D) price gouging
A
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Suppose the output gap is zero, and policy makers wish to reduce the inflation rate from 10 percent to 5 percent. Which of these policies seems best?
A) contractionary policies to reduce output at least 5 percent below potential output B) a convincing declaration of the inflation rate target, so that expected inflation falls to 5 percent C) no policy action; inflation will fall on its own, eventually D) no policy action; inflation will converge to its long-run rate, regardless of policy E) price and wage controls to counteract their stickiness
A cost which has been incurred and cannot be recovered is called a:
a. Opportunity Cost b. Monetary Cost c. Variable Cost d. Sunk Cost