If you were running an advertising campaign for designer men's suits, you should target families with:
A. poor taste in clothing.
B. lower incomes.
C. similar tastes and preferences.
D. higher incomes.
Answer: D
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Many online auctions end when a certain amount of time has gone by without a bid. This causes bidders to place several last-minute bids. This practice is known as ________
A) sniping B) jump bidding C) nonforcing D) signing off
An increase in a family’s income will cause its budget line to
A. become steeper. B. become flatter (less steep). C. move closer to the origin. D. move away from the origin. E. become more convex toward the origin.
During the expansion phase of a business cycle
a. employment and output are both at a peak b. employment and output are both rising c. employment is falling and output is rising d. unemployment is rising and output is falling e. employment is rising and output is falling
Refer to Figure 19.2. The total utility of two apples is
A. 6 utils. B. 2 utils. C. 5 utils. D. 11 utils.