Roughly ________ of the increased prices of Japanese automobiles during the 1980s was due to the voluntary export restraints.
a. 25%
b. 35%
c. 50%
d. 95%
Answer: b. 35%
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Rich and poor people have which of the following in common?
A) Scarcity B) Economizing behavior C) Pursuing the plans and projects in which they are interested D) All of the above. E) None of the above.
A bank is insolvent when
A) its liabilities exceed its assets. B) its assets exceed its liabilities. C) its capital exceeds its liabilities. D) its assets increase in value.
The difference between the utility of expected income and expected utility from income is
A) zero because income generates utility. B) positive because if utility from income is uncertain, it is worth less. C) negative because if income is uncertain, it is worth less. D) that expected utility from income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the utility of expected income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure. E) that the utility of expected income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the expected utility of income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.
A competitive strategy is
A) is the development of a price fixing arrangement. B) the development of a distinctive capability. C) a rent-seeking strategy. D) a path to accounting profits.