Human wants
a. are unfilled only in the poorer countries of the world
b. can be completely satisfied by adopting new production technologies
c. can never be fully satisfied
d. can be satisfied if they refer only to necessities
e. exist only if we are selfish, irrational, or unwilling to modify how we produce goods and services
C
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Qualitative forecasting methods
A. use higher quality data than statistical methods. B. are often the result of expert opinion. C. cannot be replicated by another researcher. D. both b and c E. all of the above
Calculate the internal rate of return for a machine that costs $500,000 and provides annual revenue of $115,000 per year for 5 years. You can assume all revenue is received once a year at the end of the year.
What will be an ideal response?
Suppose that a nation can only make two products: defense goods and civilian goods. In a graph of the marginal benefit (MB) and marginal cost (MC) of defense goods, a leftward shift of the MB curve will cause the optimal quantity of:
A. Civilian goods to decrease B. Both civilian goods and defense goods to decrease C. Defense goods to decrease D. Defense goods to increase
The first antitrust legislation was the:
A. Sherman Act. B. Clayton Act. C. Federal Trade Commission Act. D. Robinson-Patman Act.