By which of the following methods could a supplier identify its good as a plum to a skeptical buyer?
A. money-back guarantee
B. warranties and repair guarantees
C. a verbal assurance
D. both money-back guarantee and warranties and repair guarantees
Answer: D
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A call option is a contract
A) that gives the owner the right, but not the obligation, to buy shares of a stock at a specified price within the time limits of the contract. B) that gives the owner the right, but not the obligation, to sell shares of a stock at a specified price within the time limits of the contract. C) in which the seller agrees to provide a particular good to the buyer on a specified future date at an agreed-upon price. D) that gives the owner the right, but not the obligation, to buy or sell shares of a stock at a specified price within the time limits of the contract.
Which of the following is NOT a function of the Federal Reserve System?
A. making loans to private firms B. supervising member banks C. holding deposits of member banks D. providing for check collection and clearing
For a perfectly competitive firm at its long-run equilibrium
A. P = MR = MC = AC. B. accounting profit must be zero. C. P = MR > MC. D. there are no opportunity costs to be concerned with.
Which of the following statements is true?
A. In a command economy, consumers answer the questions of what to produce, how to produce it, and how to distribute it. B. Planned economies have fared very well in recent years, with many of these economies thriving. C. Command economies operate the most efficiently because the government makes all the production decisions. D. In command economies consumers still exercise choice.