In Alan Lakein's book How to Get Control of Your Time and Your Life, he states that daily time use should be directly related to:
a. Resources
b. Goals
c. Values
d. Attitudes
B
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Retailers and other middlemen provide benefits to patrons
A) because people don't realize how much they could save by cutting out middlemen. B) but the middlemen benefit far more. C) by lowering the cost to their customers of acquiring valuable information. D) only because their customers are irrational.
Which of the following changes is observed when the Fed increases the federal funds rate? a. Inflation is brought to an immediate halt
b. The inflation rate increases for several months, but then begins to decrease. c. Major banks try to offset this change by lowering the interest rates they charge on loans. d. Major banks try to offset this change by lowering the interest rates they pay on savings deposits. e. Major banks raise the prime interest rate that they charge to their best customers.
A decrease in the price of a good would
a. shift the supply curve for the good to the left. b. give producers an incentive to produce more to keep profits from falling. c. increase the quantity demanded of the good. d. increase the supply of the good.
What will happen in the long run if businesses in perfect competition are experiencing losses?
A. Some sellers will go out of business, causing supply to decrease and prices to fall. B. Some sellers will go out of business, causing demand to increase and prices to rise. C. Some sellers will go out of business, causing supply to decrease and prices to rise. D. Some sellers will go out of business, causing demand to increase and prices to fall.