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General Motors Prices Its Automobiles to Achieve a 15 to 20

question 79

Multiple Choice

General Motors prices its automobiles to achieve a 15 to 20 per cent profit on its investment.This approach is called ________.


Definitions:

Economy

A system by which goods and services are produced, distributed, and consumed within a society or geographical area.

Phillips Curve

An economic theory that suggests an inverse relationship between the rate of inflation and the rate of unemployment within an economy.

Government Policy

The actions, laws, or regulations established by governments to guide economic, social, and administrative issues.

Money Supply

The total financial resources available within an economy at a given time frame.

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