For much of its history, General Motors was characterized by having versions of the same car with different nameplates, e.g., Chevrolet vs. Cadillac. This business model has seemed less successful in recent years. What might explain this?
A) Consumers have more information concerning costs and quality.
B) Consumers have more information concerning costs but not quality.
C) Sellers have more information concerning costs but consumers have more information about quality.
D) Consumers have less information concerning costs and quality.
A
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Refer to the figure above. If John spends his entire income on tables, how many tables can he purchase?
A) 8 B) 10 C) 30 D) 40
Refer to Figure 23-1. At point J in the figure above, which of the following is true?
A) The economy has achieved macroeconomic equilibrium. B) Actual inventories are less than planned inventories. C) GDP will be decreasing. D) Aggregate expenditure is less than GDP.
Of the following, which is the least likely example of an increase in total factor productivity?
A) the introduction of the assembly line B) an increase in immigration C) good weather D) a reduction in the relative price of energy
The biggest benefit to members of a union is:
A. being able to bargain as a group. B. keeping non-union workers out of their industry. C. negotiating minimum wage legislation. D. getting raises without having to do any work.