Relative-Price Variability Is "Automatic" When

question 78

Multiple Choice

Relative-price variability is "automatic" when

• A)firms change prices only once in a while.
• B)firms change prices often.
• C)people increase the frequency of their trips to the bank.
• D)people decrease the frequency of their trips to the bank.

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Definitions:

Consumer Habits

Patterns or tendencies in purchasing behavior displayed by individuals or groups as they buy products or services.

Imperialism

Is the economic domination of one country by another.

Colonialism

Is the direct political control of one country by another.

Economic Domination

The condition where one country, corporation, or individual exerts significant control over the economic activities and decisions within a region or worldwide.