Refer to the information provided in Figure 23.4 below to answer the question(s) that follow.
Figure 23.4Refer to Figure 23.4. If income is Y1, aggregate consumption is the smallest when the aggregate consumption function is
A. C3.
B. C2.
C. C1.
D. cannot be determined from the figure.
Answer: C
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The person hired by a corporation's board of directors to run the day-to-day operations of the corporation is known as the
A) chief executive officer. B) owner-manager. C) corporate governor. D) chairman of the board.
The product life cycle theory predicts that comparative advantage shifts away from the country of origin if:
a. the product is introduced in many countries simultaneously. b. the product is highly demanded in international markets. c. the demand for the product drastically declines in the domestic market of the country where it was invented. d. other countries have lower manufacturing costs using the now-standardized technology. e. other countries develop highly skilled labor forces to improve product quality.
When a non-discriminating monopolist is maximizing profit, its marginal revenue
a. must be positive b. must be negative c. must equal zero d. may be either positive or negative e. must be upward sloping
whoever does it the cheapest
What will be an ideal response?