In a given year, ________ of smartphone or tablet owners will pay for any apps
A) less than 15 percent
B) only about one-third
C) about 75 percent
D) almost 90 percent
Answer: B
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The idea that consumers will not consistently discount the future over time is known as ________
A) intertemporal choice B) tertiary inversion C) hyperbolic discounting D) antediluvian Machiavellianism
If a corporation's retained earnings are expected to create future profits, the market price of the firm's stock will ________ and create a ________ for stockholders if the stock is sold
A) increase; capital gain B) decrease; capital gain C) increase; loss of wealth D) decrease; loss of wealth
Perfect competition and monopolistic competition are similar in that both market structures include
A) price-taking behavior by firms. B) a homogeneous product. C) no barriers to entry. D) very few firms.
Direct controls work if
a. there is vigilance and enthusiasm in enforcement by the regulatory agency. b. speed and rigor are used in the court system in prosecuting cases. c. there are significant penalties imposed by the legal system. d. All of the above occur.