Sales forecasts are applications of demand theory.
a. true
b. false
a. true
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Refer to Figure 2-14. What is the opportunity cost of producing 1 popsicle in Iceland?
A) 1 1/2 snow cones B) 3/4 of a snow cone C) 2/3 of a snow cone D) 270 snow cones
If the real rate of return is 2 percent, and the inflation rate is 0 percent, then the nominal interest rate must be:
A. 2 percent. B. 0 percent. C. 4 percent. D. ?2 percent.
In a free market system
A. there is no government involvement in the economy. B. resources are allocated on a first-come first-served basis. C. buyers and sellers make all of the economic decisions. D. government mostly allows markets to operate with little intervention or regulation.
In the countries that have adopted inflation targeting, the inflation rate has typically
A) increased. B) decreased. C) decreased to zero. D) not changed.