Jake is an excellent barber. However, all customers who come to him for a haircut must buy a bottle of shampoo. This type of arrangement is known as
A) a tie-in sale.
B) a sweetheart deal.
C) an exclusive contract.
D) a cross subsidy.
A
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Refer to Game Matrix II. When would the upper left-hand corner be the likely outcome of this game?
Game Matrix II
The following questions refer to the game matrix below. Player A can play the strategies "High" and "Low," and Player B can play the strategies "Odd" and "Even."
a. When the game is played sequentially, with A being the first player.
b. When the game is played sequentially, with B being the first player.
c. When the players choose their strategies simultaneously.
d. The upper left-hand corner would never be the likely outcome, because the upper right-hand corner makes both player better off.
If the United States imports goods and services for a total of $45 billion, exports goods and services for a total of $40 billion, records $4 billion as net interest and zero as net transfers, then the U.S. current account balance is
A) $1 billion. B) -$1 billion. C) $89 billion. D) zero. E) $81 billion.
As a percentage of GDP, federal expenditures ________ from 1950 to the early 1990s, ________ from 1992 to 2001, and have ________ since 2001
A) rose; rose; fallen B) fell; rose; fallen C) rose; fell; risen D) fell; fell; risen
Refer to the table below. Suppose the profit for each unit of paper product is $3.00 and the profit for each unit of lumber is $13.50 and Big Oaks is producing the profit-maximizing quantity of lumber and paper products. If the profit from each unit of lumber increases from $13.50 to $15.00 and the profit for each unit of paper products does not change, to maximize profit, Big Oaks should produce
a ________ proportion of lumber and produce ________ units of paper products and lumber.
Big Oaks can produce either paper products or lumber with each tree that they harvest. Because Big Oaks can adjust the amount of paper products and lumber they produce from the harvested trees, paper products and lumber are produced in variable proportions. The above table summarizes Big Oaks production possibilities from each harvested tree.
A) smaller; less
B) smaller; more
C) greater; more
D) greater; less