What role does a company like J.D. Power (which provides product satisfaction reviews) serve?
A) It provides a screening test.
B) It provides a signal of quality.
C) It reduces moral hazard.
D) It reduces costs of giving surveys.
B
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If a bottle of fine French wine costs US$250 in the U.S., 2500 rand in South Africa, there are no transaction costs, and the exchange rate is 10 rand/US$, then
A) there is an arbitrage opportunity by buying the wine in the U.S., and selling it in South Africa and the price in South Africa will drop. B) there is an arbitrage opportunity by buying the wine in the U.S., and selling it in South Africa and the price in the U.S. will drop. C) there is no arbitrage opportunity. D) Unable to determine, since France is in the eurozone and we would need exchange rates in euro terms.
If retailers have a resale price maintenance agreement with a manufacturer to sell the product at a minimum price of $100, this means that brick and mortar stores ________ charge a price below $100 and online retailers ________ charge a price below $100.
A) can; can B) cannot; can C) cannot; cannot D) can; cannot
The price elasticity of demand is the ratio of the change in quantity demanded to the change in price
a. True b. False Indicate whether the statement is true or false
Economic theory suggests that the consumer prejudice explanation for discrimination means that consumers will have to pay more to be served by employees of a specific group
a. True b. False Indicate whether the statement is true or false