Following the September 11, 2001, terrorist attacks, the managers of many hotels expected a prolonged period of reduced travel and responded by laying off workers and postponing or canceling new construction
Isadore Sharp, the chairman and CEO of Four Seasons Hotels, decided to
A) curtail expansion plans, and by significantly cutting back on expansion was able to maintain the company's market share.
B) continue expanding and the company ended up losing significant market share.
C) curtail expansion plans and the company ended up losing significant market share.
D) continue expanding and was able to maintain or enhance the company's market share.
D
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If government rules and regulations hurt free trade then
A) one might find higher levels of investment. B) one might find more corruption. C) one might find positive externalities. D) all of these choices
The total amount of income earned by U.S. resource suppliers in a year, plus taxes on production and imports, is measured by:
a) gross domestic product. b) national income. c) personal income. d) disposable income.
Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. They then notice that they are selling approximately 15% fewer sodas. The price elasticity of demand for sodas from the campus vending machines, therefore, is:
A. elastic B. inelastic C. unit elastic D. infinite
Compared to 1960, in 2008 the proportion of retirees living in poverty has fallen from 35 percent to about _________ percent.
A. 5 percent B. 10 percent C. 15 percent D. 20 percent