U.S. auto sales took a beating in September 2008 as the nation's worsening economy turned dealer showrooms into ghost towns
Automakers reported a sharp drop-off in sales in the last ten days of the month as news of bank failures and a stock market meltdown increased economic uncertainty. What type of constraint do the automakers face when there is increased economic uncertainty? A) information constraint
B) technology constraint
C) marketmconstraint
D) price constraint
A
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Assuming all else equal, inflation can:
A) reduce the real interest rate, and increase the real wage rate. B) increase both the real interest rate and the real wage rate. C) increase the real interest rate, and reduce the real wage rate. D) reduce both the real interest rate and the real wage rate.
An efficient allocation of resources is reached in the figure above when output equals
A) 1 million. B) 2 million. C) 3 million. D) 4 million.