Harry's HVAC sells its new units with locked and encrypted servicing software, which only Harry's own service technicians can operate. Why would it want to do that?
a. To ensure that the customer knows that they are stuck with Harry's service technicians
b. To ensure that Harry's technicians do not service the equipment
c. To ensure that the customers do not buy second-class servicing and then infer faulty design if a unit breaks down due to inadequate service
d. All of the above
c
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Deflation is bad because:
A. wages decline. B. prices decline. C. monetary policy becomes impotent. D. fiscal policy becomes impotent. E. deflation is not bad.
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 cash deposit, then, excluding the $1,000 initial deposit, the banking system can increase the money supply by:
A. $900. B. $910. C. $1,000. D. $9,000.
Consider an antique auction where bidders have independent private values. There are two bidders, each of whom perceives that valuations are uniformly distributed between $100 and $1,000. One of the bidders is Sue, who knows her own valuation is $200. What is Sue's optimal bidding strategy in a first-price, sealed-bid auction?
A. Submit a bid that is less than $150. B. Submit a bid of $200. C. Submit a bid of $150. D. Yell "mine" when the bid reaches $150.
From a macroeconomic perspective, a payment made by a foreign firm to a U.S. investor looks just like an:
a. import of a service b. import of a good c. export of a service d. export of a good