Behavioral economics helps explain why customers ________ at J.C. Penney
A) responded negatively to both sales and coupons and the policy of everyday low prices
B) were equally happy with sales and coupons and the policy of everyday low prices
C) favored the policy of everyday low prices and not sales and coupons
D) favored sales and coupons and not the policy of everyday low prices
D
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The federal income tax in the United States is
A) regressive. B) proportional. C) progressive. D) a flat-rate tax.
The difference between a price decrease and an increase in income is that
A. An increase in income does not affect the slope of the budget line, while a decrease in price does change the slope. B. A price decrease leaves real income unchanged, while an increase in income increases real income. C. A price decrease does not affect the consumption of other goods, while an increase in income does. D. A price decrease decreases real income, while an increase in income increases real income.
The first structured investment vehicle (SIV) was set up by ________ in 1988
A) J.P. Morgan B) Chase C) Citigroup D) Goldman Sachs
Refer to the information provided in Figure 5.4 below to answer the question(s) that follow.
Figure 5.4Refer to Figure 5.4. The demand for milkshakes is unit elastic at Point C. If the milkshake price rises from P2 to P1, total revenue will
A. increase. B. decrease. C. either increase or decrease. D. remain constant.