What is the difference in the price elasticity of demand for alcohol in the short run and in the long run?
a. 1.6
b. 2.7
c. 3.6
d. 4.7
b. 2.7
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The best way to ensure that the sales agents are working in the firm's best interests is to
a. Tell the agent what he should be doing b. Provide the agent an incentive to work in your best interest c. Force the agent to work in your best interest d. Fire the agent
When the price of a good is above its equilibrium price, a:
a. surplus puts upward pressure on the price. b. surplus puts downward pressure on the price. c. shortage puts upward pressure on the price. d. shortage puts downward pressure on the price.
Which statement is true?
A. Almost one-half of the world's population lives in less developed countries. B. The economies of most of the NICs are growing very slowly. C. The output of the United States today is smaller than it was in 1990. D. The U.S. education system is second to none.
Generally speaking, ________ starts out negative, turns positive, then approaches zero near the end of life.
A. income B. wealth C. consumption D. all of the above