By seeking economic profit, managers are seeking to create value
Indicate whether the statement is true or false
True
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Which of the following was an effect of the price ceiling placed on gasoline in the U.S. in the 1970s?
A) Car owners started buying luxury cars that were less fuel-efficient as the price of gas was very low. B) Gas stations ran out of gas as the quantity of gas demanded exceeded the quantity supplied. C) Those who valued gas the most were able to buy gas under the price ceiling. D) The inventory of unsold gas increased and gas stations incurred losses.
For the regression equation Q = 100 - 10X + 0.25X2, which of the following statements is true?
A) X2 is the more important variable because it is positive. B) When X decreases by one unit, Q decreases by 10 units. C) When X increases by 10 units, Q decreases by 1 unit. D) The change in Q associated with a one unit increase in X depends on the initial level of X.
If population grows faster than income, then per capita income must fall
Indicate whether the statement is true or false
The difference between nominal and real interest rates is that
A. real interest rates are what you get after having adjusted nominal rates for inflation. B. nominal interest rates are what borrowers pay and real interest rates are what lenders receive. C. real interest rates are almost always greater than nominal interest rates. D. nominal interest rates are what lenders receive and real interest rates are what borrowers pay.