Which of the following is NOT an example of ways in which microeconomic analysis can help Toyota Motor Corporation its in corporate decision making?
A) Forecasting demand for new automobiles
B) Determining how many automobiles to produce in order to maximize profits
C) Predicting how competitors will react to the firm's pricing strategy
D) Forecasting the effect of Toyota's hiring patterns on the U.S. unemployment rate
E) Forecasting the effect of an oil price increase on demand for hybrid autos
D
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Consider a tragic and heart-wrenching case in which a cancer patient is told he needs chemotherapy in order to live three more years at best, but the patient's final three years will be filled with all the terrible side-effects of the treatment
Without it, he will surely die within a year, but his quality of life would be a better. Suppose he chooses to quit chemotherapy. The economic way of thinking would therefore conclude A) the patient made the wrong choice. B) the doctors were absolutely right—the patient needs chemotherapy. C) it is better to live longer than it is to die sooner. D) all of the above are true. E) none of the above is true.
Which of the following best describes the four sector model?
(a) Y=C-I+G+M-X. (b) Y = C -I - G - X + M. (c) Y = C + I + G + M - X. (d) Y = C + I + G + X - M.
Which of the following would be most likely to cause an increase in the wage rate for a particular job?
a. A decrease in the danger of this job. b. An increase in the number of workers with the skills for this job. c. An increase in the danger of this job. d. An improvement in the working conditions associated with this job. e. A decrease in the amount of training needed to perform this job
Rachel agrees to lend Phoebe $100 for six months and charges her interest of 2 percent. At the end of the six-month period, prices have risen by 4 percent.
A. Purchasing power has been redistributed to Rachel. B. No purchasing power has been redistributed. C. Purchasing power has been redistributed to Phoebe. D. Both Rachel and Phoebe received extra purchasing power.