Official poverty rates in the last 40 years have
A. risen dramatically.
B. stayed roughly the same.
C. been eliminated.
D. fallen dramatically.
Answer: B
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Points lying below a production possibilities curve are:
A) inefficient because more can be produced with the available resources. B) inefficient because they represent the production of only one good. C) efficient because combinations represented by those points are attainable. D) efficient because production is maximum on those points with the available resources.
A 10 percent decrease in advertising results in a 5 percent sales decrease. The advertising elasticity of demand is ________
A) -2.0 B) -0.5 C) 0.5 D) 2 E) none of the above
When a transfer price is set higher
a. the buying division will want to sell less to the selling division b. the buying division will want to sell more to the selling division c. the selling division will want to sell less to the buying division d. the selling division will want to sell more to the buying division
If producing just one more tube of toothpaste makes Crest's average total cost fall, the marginal cost of that tube of toothpaste is
a. less than one b. greater than the average total cost of the previous tubes c. greater than the average variable cost of the previous tubes d. less than the average total cost of the previous tubes e. less than the marginal cost of the previous tube