An upward-sloping line or curve is used to illustrate:
A. a direct relationship.
B. an inverse relationship.
C. two unrelated variables.
D. the ceteris paribus assumption.
Answer: A
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Net domestic product is usually preferred to GDP by economists because net national product
A. includes depreciation. B. excludes depreciation. C. includes indirect business taxes. D. excludes indirect business taxes.
Firm A has been dealing in baby food products for the past 10 years and enjoys a good market share. Suppose a new firm enters the market to capitalize on the increasing demand for such products. However, the products of the new firm fail to attract customers. The failure of the new firm is due to
A. the learning curve effect. B. scale economies. C. the pioneering brand advantage of the incumbent. D. the specific assets owned by the incumbent.
A United States government patent lasts
A) forever. B) 50 years. C) 20 years. D) 7 years.
Refer to the information provided in Table 2.1 below to answer the following question(s). Table 2.1?KrystalMarkWriting Poems812Writing TV Commercials24Refer to Table 2.1. For Krystal, the opportunity cost of writing four TV commercials is ________ poems.
A. 2 B. 8 C. 16 D. 32