Which of the following examples would lead to a demand for German marks?
a. Judy Potter, an American, wants to purchase a German automobile
b. Jim Potter, Judy's husband, wants to purchase German stocks.
c. IBM, Judy's employer, wants to buy a small computer firm in Germany.
d. All of the above.
d
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In 2009 Al Gore won the Nobel Peace Prize and was awarded $1.4 million. He donated it to his Alliance for Climate Protection. From the economic point of view his charitable project suggests
A) Gore himself no longer faced scarcity because he was in a position to give so much of his money away. B) the Alliance at least temporarily overcame scarcity because they enjoyed free resources. C) it was chosen over other uses of his money, and therefore even Gore had to economize. D) it was a ploy to gain more media attention after his Vice Presidency.
If Happy Feet chooses to No Ad, Best Nails should ________ and earn ________ million in net profit.
Happy Feet wants to prevent Best Nails from entering the nail salon market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Happy Feet and Best Nails have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) Ad; $2 B) No Ad; $3 C) No Ad; $4 D) Ad; $3
A typical automobile insurance policy is an example of:
A. property and casualty insurance. B. property insurance only. C. liability insurance only. D. casualty insurance only.
If the elasticity number (E) is less than 1, a price increase will cause total revenue to fall.
Answer the following statement true (T) or false (F)