In order to be successful as an innovator, a firm may require:
a. constant investment in mergers and acquisitions.
b. frequent expansion of its scale of operation.
c. to invest the majority of its annual profit in market research.
d. research facilities and a culture that respects scientists and engineers.
D
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Globalization had to be put into effect to revive developed economies after the financial crises of the 1990s
a. True b. False Indicate whether the statement is true or false
Rent controls tend to cause persistent imbalances in the market for housing because
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus.
The general schooling model predicts that schooling increases
A. as both ability and the discount rates increase. B. as both ability and the discount rate decrease. C. as ability increase but as the discount rate decreases. D. as ability decreases but as the discount rate increases. E. when ability is held constant and the discount rate increases.
A restaurant sells a large soft drink at a fixed price of $1.79. A term used by economists to describe the money received from the sale of an additional large soft drink is
A) marginal revenue. B) gross earnings. C) pure profit. D) net benefit.