One attitude shift in the United States is that people are beginning ___________ at an earlier age
a. Travel planning
b. Career planning
c. Retirement planning
d. Estate planning
C
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Which of the following means that the CPI overstates the actual inflation rate?
A) new goods bias B) quality change bias C) outlet substitution bias D) All of the above cause the CPI to overstate inflation.
If you advertise and your rival advertises, you each will earn $3 million in profits. If neither of you advertises, you will each earn $7 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $10 million and the non-advertising firm will earn $1 million. If you and your rival plan to be in business for 15 years, then the Nash equilibrium is for:
A. neither firm to advertise in early years, but to advertise in later years. B. you and your rival to advertise every year. C. each firm to advertise in early years, but not advertise in later years. D. you and your rival to not advertise in any year.
A monopolist who has a ________ ATC schedule and charges the same monopoly price to all buyers appropriates less consumer surplus as profit than a perfect price discriminator does.
A. horizontal B. vertical C. U-shaped D. downward-sloping
If the market price for a crop is $4.00 a bushel, and the price support is $3.00, then raising the price support to $5.00
A. will cause the price received by farmers to rise to $5.00. B. will cause the price received by farmers to rise to $4.00. C. will cause nothing to happen. D. will cause the price received by farmers to fall.