The VP in charge of product launches hypothesizes that a particular product would not be profitable, then killing a potentially profitable product is a
a. Type I error
b. Type II error
c. Type III error
d. Type IV error
a
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In an unregulated competitive market, the presence of marginal external benefit from a good or service results in less than the efficient quantity being produced
Indicate whether the statement is true or false
Product differentiation complicates the study of oligopolies because such markets may not
a. be efficient. b. have prices equal to marginal cost. c. have free entry and exit. d. obey the law of one price.
As individuals hold more of their financial assets in the form of money market accounts and mutual funds, the velocity of money will decrease
a. True b. False Indicate whether the statement is true or false
Alan Greenspan, former Chairman of the Federal Reserve, discussed the advantages of which kind of tax system, "particularly if one were designing a tax system from scratch"?
a. a progressive tax system b. a regressive tax system c. a consumption tax d. a lump-sum tax