Which of the following statements is not correct about the 1920s?
a. There was an increased use of advertising.
b. There was a significant increase in travel and the building of highways.
c. There were many innovations in the automobile sector.
d. The rapid increases in income reduced the use of credit.
d. The rapid increases in income reduced the use of credit.
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Suppose the game above is repeated every day, and both firms adopt the following strategy: cooperate on the first day, then if the other firm cheats, cheat the next day, and if the other firm abides, abide the next day. This type of strategy is known as: ________.
A. the cartel solution B. a tit-for-tat strategy C. a prisoner's dilemma D. the golden rule
Multinational businesses produce and sell goods around the world.
Answer the following statement true (T) or false (F)
The factor of production called "labor" can be defined as the:
A. time spent by employees in the production of goods, but not services. B. fraction of total costs spent on people. C. number of worker-hours a business uses at a given time. D. number of people a business has access to at any given time.
Given their skills, a college graduate may be perceived as a good manager of time and the better fit for a managerial job than a high school graduate. This is an example of:
A. the learning effect of a college education. B. the signaling effect of a college education. C. the discriminatory effect of a college education. D. All of these