If firms find that consumers are purchasing more than expected, then?
What will be an ideal response?
Aggregate expenditure will likely be greater than GDP
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The maximum possible profit that could be earned by a cartel is: a. greater than the monopoly profit
b. equal to the monopoly profit. c. less than the monopoly profit. d. unrelated to the level of monopoly profit.
Economic growth
A. Refers to an increase in output. B. Causes the production possibilities curve to shift inward. C. Cannot be sustained over time. D. Means that capacity has decreased in the short run.
John is going to spend all of his income. For the last unit of Good X consumed John gets 20 utils and for the last unit of Good Y consumed he gets 10 utils. The price of Good X is $4. The price of Good Y is $1. If John wants to maximize his utility he
should A) continue to purchase the same amount of Good X and Good Y. B) increase the consumption of Good X and decrease the consumption of Good Y. C) decrease the consumption of Good X and increase the consumption of Good Y. D) decrease the consumption of Good X and decrease the consumption of Good Y.
An example of organizational architecture based on customer location is when divisions are defined as
a. R&D, Engineering, Production, Marketing, Sales b. Component 1 Plant, Component 2 Plant, Component 3 Plant, Final Assembly c. Store 1, Store 2, Store 3, Region A, Region B, Sales Division d. Business Customers, Educational Customers, Household Customers