Kodak introduced to the marketplace a digital camera that uses no film but that takes photos that can be shown on personal computers. This is an example of:
A. economies of scale.
B. product innovation.
C. process innovation.
D. venture capital.
Answer: B
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At the end of World War II in 1945, many economists and business managers expected that the U.S. economy would enter a severe recession. At that time, Sears and Montgomery Ward were the two largest department store chains in the country
Sears CEO Robert Wood expected continuing prosperity and opened new stores. Montgomery Ward CEO Sewell Avery expected falling incomes and rising unemployment and closed a number of existing stores. The results of their actions were seen during the late 1940s, when A) Sears declared bankruptcy and was purchased by Montgomery Ward. B) Montgomery Ward weathered the economic downturn in better financial shape than Sears. C) Sears had to close many of the new stores it had opened following the end of the war. D) Sears rapidly gained market share at Montgomery Ward's expense.
Regarding fiscal policy, the new classical economists
a. are in favor of stability. b. attempt to avoid excessive and inflationary stimulus. c. want to avoid erratic government deficit spending. d. All of the above e. None of the above
Game theory is based on the idea that each participant makes decisions based on how she believes the competition will react
a. True b. False Indicate whether the statement is true or false
The problem of political instability has been greatest in which continent?
A. South America B. Europe C. Asia D. Africa