Firms spend significant amounts of time and resources developing pricing strategies
Indicate whether the statement is true or false
False
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An example of "investment" in the national income accounts is the purchase of
A) a new van by a potter, who packs it with his wares and travels to art shows. B) 100 shares of Intel stock on the New York Stock Exchange. C) a 100-year-old house that was just put on the protected historic sites list in the year in question. D) a U.S. government bond.
Which of the following situations best describes an individual who is cyclically unemployed?
A) Catherine is a ski instructor who is not working because it is summer. B) Matthew was an artillery man, but he has been unable to find work since he left the army. C) Nicholas was laid-off when orders for General Motors cars fell during a recession. D) Susan quit her job as a preschool teacher to try to find a better paying job.
Which of the following is NOT an example of consumer behavior consistent with the standard assumptions of microeconomic theory?
A) A concern for fairness can influence purchasing patterns. B) When demand increases, all else being equal, consumers expect price to rise. C) After a snowstorm, the demand for snow shovels increases. D) Snow shovels and snow plows are substitute goods. E) none of the above
A corporation's earnings are
a. the amount of revenue it receives for the sale of its products minus its costs of production as measured by its accountants minus the dividends paid out. b. the amount of revenue it receives for the sale of its products minus its direct and indirect costs of production as measured by its economists minus the dividends paid out. c. the amount of revenue it receives for the sale of its products minus its costs of production as measured by its accountants. d. the amount of revenue it receives for the sale of its products minus its direct and indirect costs of production as measured by its economists.