Recall the Application about the behavior of prices in retail catalogs to answer the following question(s). Economist Anil Kashyap of the University of Chicago examined the prices of 12 selected goods from L.L. Bean, REI, and The Orvis Company, Inc. Kashyap tracked the prices from the companies' catalogs which were reissued every six months.
-Even though the catalogs listed in the Application were reissued every six months, the prices which were tracked in these retail catalogs
A) were typically fixed for a year or more.
B) changed every month.
C) tended to fall during periods of high inflation.
D) were not listed due to low rates of inflation.

Question

Quizplus · Accepted Answer

The article states that the prices tracked in the retail catalogs were typically fixed for a year or more, despite the catalogs being reissued every six months.

Recall the Application About the Behavior of Prices in Retail