A downtown diner daily serving the same business people will be more likely to serve a tasty lunch than a snack bar at a tourist attraction
What will be an ideal response?
True. The diner will benefit from a good reputation with consumers. The business people will repeatedly visit a good diner. The snack bar at the tourist attraction will usually only serve consumers once. There is no need to build a good reputation.
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In the United States since 1900, life expectancy at birth has ________ and the death rate has ________
A) decreased; increased B) increased; increased C) decreased; decreased D) increased; decreased
A decrease in the foreign real interest rate will tend to cause, other things the same ________
A) a decrease in the return on dollar assets relative to foreign assets B) an increase in the demand for dollars C) a depreciation of the domestic currency D) individuals to hold fewer dollar assets
The term transfer payments refers to
A. Federal income taxes. B. Money that is transferred between savings and checking accounts. C. Additional profits transferred to monopolies as a result of their market power. D. Payments to individuals that are not in exchange for current goods and services being produced.
When the real wage rate changes, firms change the __________ and the level of production.
A. wage rate of employees B. quality of goods or services produced C. quantity of labor employed D. production plans