Which of the following is a direct consequence of the development of faster and cheaper computers?
a. The development of double-entry bookkeeping
b. The enhanced ability of managers of business operations to deal with complex transactions in far-flung locations
c. The creation of money
d. The decrease in workers' productivity, because more computers need fewer people to operate them
e. A decline in the rate of inflation
b
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The women's dress industry is monopolistically competitive because each firm has
A) a large market share. B) a very small market share. C) no market share. D) no competition for their market share. E) struck a deal with the many other firms about what price will be charged.
What is the relationship between individual demand and market demand?
What will be an ideal response?
In Table 5.3, the standard deviation is
A) highest for the HMO choice, and it is $76,000. B) lowest for the HMO choice. C) higher for owning one's own practice than for going into research. D) higher for the HMO choice than for going into research.
In situations in which prices cannot be used to signal relative scarcities of goods, which of the following can serve as a rationing mechanism?
A. political power B. random assignment C. queuing D. All of these