The recession of 2001 began in ________ and ended in ________
A) March; November
B) February; December
C) April; October
D) February; October
A
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The criteria of Expected Monetary Value (EMV) is used for making decisions when
a. you are certain of the outcome. b. you have no knowledge of possible outcomes. c. you can assign a probability to each outcome. d. all of the above e. none of the above
In the short run, total output in an industry
A. is absolutely fixed. B. may be altered by varying the size of plant and equipment that now exist in the industry. C. can vary as the result of new firms entering or leaving the industry. D. can vary as the result of using a fixed amount of plant and equipment more or less intensively.
In the______________, workers cannot work efficiently because there are too many resources per worker.
Fill in the blank(s) with the appropriate word(s).
The purpose of randomized pricing is to reduce:
A. both customer and competitor information about price. B. competitor price information only. C. the firm's pricing inflexibility. D. consumer price information only.