Which of the following trade agreements provides for the development of a single market among its members?
A) World Trade Organization B) European Union
C) North American Free Trade Agreement D) Asian Pacific Economic Cooperation
B
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If a bank needs to raise the amount of capital relative to assets, a bank manager might choose to
A) buy back bank stock. B) pay higher dividends. C) shrink the size of the bank. D) sell securities the bank owns and put the funds into the reserve account.
Variables that change before real GDP changes are measured by the:
a. personal income index. b. real GDP index. c. forecasting gauge. d. index of leading indicators.
Gigi consumes only Perrier and cheese. In order to maximize her happiness subject to limited income, Gigi should purchase the amounts of Perrier and cheese at which
A. the addition to happiness of the last bottle of Perrier is the same as the addition to happiness of the last pound of cheese. B. the addition to happiness per dollar spent on Perrier is the same as the addition to happiness per dollar spent on cheese. C. she spends all her income. D. both b and c E. both a and c
Tax Fighters, Inc., develops, markets, and sells software for tax preparation. Tax Fighters, Inc. sells IRS Tax Fighter, a software for completing federal income tax forms and Gopher Basher, a software for completing Minnesota state income tax forms. For simplicity, assume that all of the costs in this industry are the fixed costs of developing the software packages themselves. The marginal cost of producing another disk is approximately zero.Consider the following information about the demand for tax software. There are an equal number of consumers in each group. Figure 7.1 shows the maximum that each type of consumer is willing to pay for each product. As vice president for pricing, explain your optimal bundling and pricing strategy to maximize Tax Fighter profits from the sale of tax
software. Be sure to clearly explain why your strategy is optimal.
What will be an ideal response?