Which of the following is not included in investment?
A) the purchase of new equipment by firms
B) nondurable goods
C) the purchase of a new home
D) none of the above
B
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Which of the following generalizations is correct? Demand tends to be
A. relatively more inelastic for a product considered a necessity. B. relatively more inelastic when more substitutes are available for a product. C. relatively more inelastic the more time consumers have to respond to price changes. D. relatively more elastic when the price of a good or service, as a proportion of income, is smaller.
If there are 200 physicians per 100,000 population in the United States generally, but over 500 per 100,000 population in San Francisco,
A) physicians are not scarce in San Francisco. B) physicians particularly enjoy living and working in San Francisco, for financial and other reasons. C) residents of San Francisco necessarily need more medical services than the average American. D) there is a shortage of patients in San Francisco. E) there is a surplus of physicians in San Francisco.
Angel Rodriguez pulls up in his 24-foot panel truck in front of Sezz Medi Brick Oven Pizza in Upper Manhattan. Even though it's the middle of the summer, he's delivering— firewood
He says even though fuel costs have doubled in the past year, it's still worth the premium he gets delivering ash and cherry to the captive and growing market in NYC. How would an increase in Angel's salary affect short run costs? A) Short run variable costs would increase. B) Short run fixed costs would decrease. C) Short run total costs would decrease. D) Short run average fixed costs would increase.
Trade secret law ________ the owner from making any public disclosure about the trade secret and trade secret protection has a(n) ________ definition.
A) encourages; indefinite B) discourages; definite C) discourages; indefinite D) encourages; definite