When using expert opinion, consumer surveys, test marketing, and price experiments to analyze consumer behavior, managers must consider whether the participating groups are representative of the larger population
Indicate whether the statement is true or false
TRUE
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
It can be said that ____ laid the foundation for the Industrial Revolution
a. the discovery of the Americas b. private property rights c. the invention of the cotton gin d. the discovery of gold e. the development of a strong judicial system
If it is desirable to enhance the incomes of factors used intensively in the import-competing industry, then a tariff actually lowers national welfare.
Answer the following statement true (T) or false (F)
As the housing bubble collapsed, as more foreclosures occurred, and the supply of homes for sale:
A. increased, it further decreased home values, which led to more foreclosures. B. decreased, as homeowners refused to sell when they owed more than the market value. C. decreased, as homeowners no longer wanted to sell their homes when prices were low. D. increased, the price of homes fell, and so the demand for homes increased.