At the end of World War II in 1945, many economists and business managers expected that the U.S. economy would enter a severe recession. At that time, Sears and Montgomery Ward were the two largest department store chains in the country
Sears CEO Robert Wood expected continuing prosperity and opened new stores. Montgomery Ward CEO Sewell Avery expected falling incomes and rising unemployment and closed a number of existing stores. The results of their actions were seen during the late 1940s, when
A) Sears declared bankruptcy and was purchased by Montgomery Ward.
B) Montgomery Ward weathered the economic downturn in better financial shape than Sears.
C) Sears had to close many of the new stores it had opened following the end of the war.
D) Sears rapidly gained market share at Montgomery Ward's expense.
D
You might also like to view...
Suppose Sam plans to buy only popcorn and soda. He has $40 to spend per week. A change in which of the following variables will change Sam's consumption possibilities? I. price of popcorn II. income III. preferences IV. utility
A) II only B) I and II C) I, II and III D) III and IV
The price to attend a NBA basketball game in Chicago is $55 while the CPI in Chicago is 153. The CPI in Charlotte is 108 while the price to attend a NBA basketball game is $52
Which city offers a smaller real cost of attending a NBA basketball game?
Which of the following events will cause a leftward shift in the supply curve of gasoline?
A) A decrease in the price of gasoline B) An increase in the wage rate of refinery workers C) Decrease in the price of crude oil D) An improvement in oil refining technology E) all of the above
Private property rights involve
a. the right to exclusive use of the property. b. legal protection against those who would seek to use or abuse the property without the owner's permission. c. the right to transfer, sell, exchange, or mortgage the property. d. all of the above.