Steve Jobs and Apple achieved tremendous successes with iMac, iPhone, iPad by:
A. Developing and producing these products in foreign locations
B. Outsourcing the development and production to other companies
C. Developing and producing both hardware and software
D. Mimicking, with great speed, its rivals and competitors
C. Developing and producing both hardware and software
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Suppose in the money market the equilibrium nominal interest rate is 5 percent. If the Fed increases the quantity of money, what is the effect on the nominal interest rate?
What will be an ideal response?
A common source of diseconomies of scale is the
A) diminishing marginal returns to capital. B) diminishing marginal returns to labor. C) diminishing marginal returns to land. D) growing complexity of management and organizational structure.
The short run is a period of time:
a. in which a firm uses at least one fixed input. b. that is long enough to permit changes in the firm's plant size. c. in which production occurs within one year. d. in which production occurs within six months.
In recent years, people have benefited from greater amounts of leisure time. This trend
a. has caused GDP to rise. b. has caused GDP to fall. c. made GDP fluctuate randomly d. is not accounted for in GDP.