According to the text, economics offers the business person
A) a substitute for the accounting department.
B) a substitute for the marketing department.
C) a way to forecast demand.
D) an approach to thinking.
E) a replacement for the personnel department.
D
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An import ban results in
A) an increase in the product's price. B) a decrease in the quantity of the product bought and sold. C) a decrease in the supply of the product. D) all of the above.
A country's financial account balance decreases if
A. foreigners increase their purchases of its existing assets. B. its current account balance increases. C. its income payment inflows on foreign assets decrease. D. its domestic residents working abroad reduce the income they send home to their families.
When calculating the costs of environmental cleanup, what factors should be taken into consideration?
What will be an ideal response?
A cost-benefit analysis of the death penalty and lifetime incarceration must consider
A. the effects upon police morale. B. the expected present value of the total costs of the two punishment methods to the government. C. the costs borne by the victims of the crime. D. all of the options are correct.