Income is considered to be a
A. nontaxable stream of funds.
B. stock.
C. flow.
D. resource.
Answer: C
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All of the following are examples of product differentiation except one. Which is the exception?
a. developing a new video game or a computer program called "How to Teach Your New Dog Old Tricks" b. manufacturing a car that minimizes outside noise relative to other cars c. lowering the price of a good in a special sale d. providing movies and special meals on airline flights e. making sodium-free, caffeine-free colas
Which of the following features was prominent in the airline industry during the 1950s?
a. The airlines had to concentrate on cost reduction. b. The airlines had to lower the frequency of flights to meet rising costs. c. The airlines served food prepared by their own employees or by other airlines. d. The airlines industry was revolutionized by low-cost budget airlines.
Structural unemployment is increased when workers can afford to be unemployed for longer periods of time as a result of:
A. unemployment insurance. B. minimum wage laws. C. worker mobility. D. skill-biased technological change.
If bottled water, soft drinks and juices are included in the definition of the beverage market, then the relevant definition of the market is defined by
A. the low degrees of substitution between products in the market. B. the high degrees of substitution between products in the market. C. a low level of competition among firms producing those products. D. the locations of products that are produced.