In 1989, Sears and Roebuck closed its stores and remarked every price in its stores to reflect a new "lower everyday" pricing strategy. Sears must have believed at that time that
A) the profit from extra sales were less than additional menu costs.
B) the menu costs were less than the gain in profits from additional sales.
C) extra liquidity was more important than menu costs.
D) B and C.
B
Economics
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Why is it true that domestic product and national income must be equal?
a. The IRS national accounting system assures that taxes equal total income. b. The total amount of spending must equal total national sales. c. The value of final product must equal the sum of resource income that produced it. d. The total amount of income earned is eventually spent.
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Which of the following is the most important contributor to human capital?
a. education b. effort c. chance d. physical strength
Economics