If identical firms sell an undifferentiated product, advertising is likely to be
A) used to attack the rivals' products.
B) collectively undertaken by the industry group.
C) strategically aimed at deterring entry.
D) focused on secret ingredients.
B
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Conflicts can arise between divisions because
a. Coordination between divisions does not benefit all divisions equally b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for actions that increase their own divisional profit regardless of their effects on other divisions d. all of the above
Spells of unemployment end about
a. 1/5 of the time with the person leaving the labor force. b. 1/4 of the time with the person leaving the labor force. c. 1/3 of the time with the person leaving the labor force. d. 1/2 of the time with the person leaving the labor force.
Related to the Economics in Practice on page 281: The foreign visitors to the temples of Laos are typically much richer than the local Laotians. This tends to make the foreign visitors ________ buyers when it comes to ticket prices to enter the temples.
A. perfectly elastic B. less elastic C. perfectly inelastic D. more elastic
If consumption was 70 percent of GDP and investment and government expenditure were both 18 percent each, then we see that
A) exports must be less than imports. B) exports must be more than imports. C) the error is due to rounding. D) we must subtract depreciation from investment so that the components of GDP do not exceed 100 percent. E) GDP can be over 100 percent because it is "gross" rather than "net."