Historically, which of the following is the most influential factor driving innovation in the hotel industry?
A. Downturns in the economic cycle
B. Focus of the populace on travel in general
C. Amenity creep
D. Importance of innovation as seen by individual property managers
E. Whether or not brand equity is seen as important at any given time
Ans: C. Amenity creep
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In a game with more than three players, the vertical axis on the left side of the graph measures payoffs and the vertical axis on the right side of the graph measures the number of players
Indicate whether the statement is true or false
Which of the following pairs is the best example of substitutes?
a. coffee and cream b. videotapes and VCRs c. honey and biscuits d. bread and butter e. butter and margarine
When MR < MC for a firm, the firm should
A. increase output, unless P < AVC. B. stay at the same level of output. C. reduce its level of output. D. stop producing.
The settling of any net deficit in the combined current, and capital and financial accounts is done with:
A. Capital reserves B. Official reserves C. Net transfers D. Net investment income