The income elasticity for cars is high. This is best illustrated by which of the following?
(a) College students buy a high percentage of the lower priced, dependable foreign cars.
(b) The purchase of all hybrid cars increases in response to the call to reduce the auto's footprint.
(c) U.S. cars built by foreign automakers sold at relatively lower prices than their equal American counterparts.
(d) All of the above.
(a)
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What is the shape of a monopolist's demand curve and marginal revenue curve?
What will be an ideal response?
Because there are ________ for total factor productivity, ________ must be the explanation for increases in labor productivity and the standard of living
A) diminishing marginal returns; capital accumulation B) no diminishing marginal returns; total factor productivity C) no diminishing marginal returns; capital accumulation D) diminishing marginal returns; total factor productivity
A point lying beyond the utilities possibilities frontier is
A) unattainable. B) efficient. C) inefficient. D) profitable.
The key to diversification is that the risks should be:
A. positively correlated. B. uncorrelated. C. negatively correlated. D. easy to reduce.