Of the following, which is most likely to be a normal good?
a. hamburger
b. automobiles
c. used clothing
d. low-rent housing units
e. macaroni and cheese
B
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Which of the following contributes to increasing marginal returns?
A) decreasing implicit costs B) increasing explicit costs C) specialization of labor D) Both answers A and B are correct. E) Both answers A and C are correct.
A company's inventory management policy influences day-to-day availability. What is the tradeoff between inventory costs and stock-out costs?
a. Expensive inventory vs. lost customers b. Technological innovations vs. product attributes c. Capital vs. debt equity d. Expensive inventory vs. technological investment
M1 is larger than M2.
Answer the following statement true (T) or false (F)
Suppose your nominal income in 1990 was $24,000. Suppose too that the consumer price index for 2012 was 1.5, and the base year for this index was 1990. How much nominal income would you need in 2012 in order to match the spending power of your $24,000 in
1990? A) $48,000 B) $36,000 C) $24,000 D) $16,000