Temporary discounts offered to customers by competitive retailers usually reflect:
a. output rationing.
b. a rise in market demand.
c. price discrimination.
d. a fall in input prices.
C
Economics
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GDP ignores all of the following EXCEPT
A) household production. B) changes in the environment that occur in the production of output. C) the value of leisure time. D) products produced in other countries that are sold in the United States.
Economics
An increase in supply of a product results when
A) the companies that produce the product have higher materials costs. B) the government reduces subsidies on the product. C) taxes on the product are increased. D) technological innovations are introduced in the manufacturing process.
Economics