Market demand is determined by all of the following except
A. Expectations about future income.
B. Income.
C. The number of potential sellers.
D. Tastes.
Answer: C
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Which of the following is not an intermediate good?
A. Tires purchased by Ford to put on their new Explorers. B. Tires sold by Goodyear to put on your Explorer. C. Tomatoes used by Ortega to make their salsa. D. Beef purchased by McDonald’s to make a Big Mac.
When demand curves shift to the left, buyers become less sensitive to price increases because they consume fewer of these goods
Indicate whether the statement is true or false
Employee performance evaluation is needed because:
A. it justifies the incredibly high fringe benefits of the CEOs. B. it determines rewards and sanctions-wages, raises, bonuses, and dismissals. C. it minimizes the risks faced by employees for putting in their effort. D. it justifies the incredibly high wages of the CEOs.
Nancy and Sheila are both loan officers who graduated from the same university with bachelors' degrees in economics, and achieved similar performance reviews. Nancy started working one year before Sheila. If Nancy earns a higher annual salary than Sheila because she has more experience, the employer is
a. rewarding increases in human capital. b. paying efficiency wages. c. practicing discrimination. d. paying a compensating differential.