________ is an example of tangible capital.
A. A pet store's unsold, unopened bags of dog food
B. An idea for a new business
C. Knowledge of how to operate a forklift
D. The goodwill a firm has established through charitable giving
Answer: A
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The difference between Gross National Product and Net National Product is the
A. rate of inflation. B. statistical discrepancy encountered in calculating GDP. C. difference between real versus nominal GDP. D. depreciation of the economy’s capital stock.
How can a partnership raise funds needed for firm expansion?
What will be an ideal response?
Refer to the Article Summary. The pricing method described in the article is referred to as first-degree price discrimination. First-degree price discrimination is also known as
A) perfect price discrimination. B) odd pricing. C) two-part tariff pricing. D) arbitrage.
Vertical integration can reduce transaction costs through all of the following ways except which one?
A) establishing a partnership between the two firms B) decreasing search costs C) decreasing the incentive for litigation D) increasing the required areas of managerial expertise