By switching its sales agents to a sales neutral profit commission, the firm is trying to convince the agents
a. To not change their sales patterns, as it would not change their compensation
b. Improve their compensation by pricing less aggressively
c. Improve their compensation by pricing more aggressively (lowering prices)
d. None of the above
b
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Suppose the Fed makes a $5 million discount loan to a bank. Illustrate how this affects the balance sheets of the Fed and the banking system
What will be an ideal response?
Generally, people are more satisfied with private market outcomes than with public voting outcomes because
a. each consumer in the private market can choose the quantity he or she desires b. most people are near the median c. the prices are lower d. markets are involuntary e. there are too many choices to make in the public sector
Use the above table. The income elasticity of jam is
A. 0.33. B. -3.00. C. 3.00. D. -0.33.
As disposable income decreases, the:
A. Average propensity to consume increases B. Average propensity to consume decreases C. Level of consumption increases D. Level of saving increases