Suppose a student is attending your college on an athletic scholarship, and doesn't pay a penny for tuition. According to the economic way of thinking, the student's cost of attending college is
A) zero.
B) bore completely by the college's athletic fund.
C) positive, because the student sacrificed some other opportunity to attend your college.
D) positive, because the student still needs food and housing.
E) negative, because nobody really gains by trying to combine athletics with higher education.
C
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If the cross-price elasticity of demand between Breeze Detergent and Faber Detergent is a relatively large positive number, then it indicates that
A) the two brands are probably made by the same company. B) consumers have a distinct preference for one brand versus the other. C) detergents are necessities. D) the two brands of detergent are close substitutes.
The United States need never pay off the national debt; it can simply refinance the debt when it comes due. The flaw in thinking that the government must pay it off is based on the fallacy of
A. benefit-cost ratio. B. post hoc, ergo propter hoc. C. composition. D. a priori expectations.
A second level of audience aggregation is represented by the ___. marketers often must communicate with a group of people who make or influence the purchase decision. an example of this is Buying centers (gate keepers such as a secretary; they hold you back from talking to the person who actually makes the decisions)
Fill in the blank(s) with the appropriate word(s).
The simple multiplier 1/MPS:
A. Understates the actual multiplier because it includes leakages in domestic spending from the purchase of imports or the paying of taxes B. Understates the actual multiplier because it excludes leakages in domestic spending from the purchase of imports or the paying of taxes C. Overstates the actual multiplier because it includes leakages in domestic spending from the purchase of imports or the paying of taxes D. Overstates the actual multiplier because it excludes leakages in domestic spending from the purchase of imports or the paying of taxes