False advertising ________ likely to be successful with newly built vacation rental homes on a remote island because the rental homes are a(n) ________ good.
A) is; credence
B) is not; experience
C) is; experience
D) is not; credence
C) is; experience
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Managers will use ________ probabilities to estimate the likelihood of a successful launch of a new brand of peanut butter.
A) relative B) objective C) known D) subjective
If quantity supplied is less at each price, we say that there has been
A. an increase in supply. B. an increase in demand. C. a decrease in supply. D. a decrease in demand.
Suppose the exchange rate is initially set at 120 yen per dollar and increases to 140 yen per dollar. In the U.S. economy this would be expected to
A. increase the U.S. trade deficit (or decrease the trade surplus). B. decrease the U.S. trade deficit (or increase the trade surplus). C. increase the U.S. trade deficit only if exports change by more than imports. D. leave the U.S. trade deficit unchanged.
A firm's MC curve will shift rightward as a result of a rise in its variable input prices. (Hint: draw this out and determine which direction makes the most intuitive sense to you).
a. true b. false