What is the practice of marking up prices by 100 percent (or doubling the cost to set the selling price)?
a. symmetrical pricing
b. mark-on adding
c. margin pricing
d. keystoning
Ans: d. keystoning
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Which of the following economic systems has the greatest government control?
a. Planned economy b. Privatization c. Mixed market economy d. Market economy
Matching
1. Power that states when a state passes a law that conflicts with the Constitution, the U.S. Supreme Court has the power to declare that state law unconstitutional and unenforceable a. Article I, Section 8
2. Power granted to Congress to coin and regulate money b. Article I, Section 10
3. Power granted to Congress to establish rules for naturalization and bankruptcy c. Supremacy Clause
4. Power granted to Congress to regulateforeign and interstate commerce d. Tenth Amendment
5. Prohibits states from passing ex post facto laws
6. Powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people
7. Power granted to Congress to establish copyright and patent protections
8. Power granted to Congress to collect taxes
9. Power granted to Congress to borrow money
10. Power granted to Congress to maintain a navy