Which is the best example of an intangible good?
A. the advice and expertise provided by the music store clerk who sold you that CD
B. the textbook study guide you hope will prepare you to perform well on examinations
C. the suit you hope will make a good impression when you go on job interviews
D. the car you dream of owning but cannot afford
Answer: A
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Evidence suggests that the market ________ take into account the credibility of analyst's recommendations of IPOs that were underwritten at the analyst's investment bank because the performance of these recommendations was about 50% ________ compared
to recommendations made by other analysts at different investment banks. A) does; better B) does; worse C) does not; better D) does not; worse
The cyclical deficit is that portion of the deficit
a. that results from the economy being below the natural rate of output. b. that would exist even if the economy were at its natural rate of output. c. is a function of the level of automatic stabilizers. d. both a and c. d. None of the above
If a hospital is experiencing economies of scale,
a. its average cost curve is positively sloped as output increases. b. its average cost curve is negatively sloped as output increases. c. it should reduce its output level to lower costs. d. quality is falling as output is rising. e. both b and c are true.
Suppose that you value a hat from your favorite university at $20 . The university bookstore has the hat on sale for $15 . You purchase the hat but lose it on the way home. What should you do? Assume that losing the hat does not alter how you value it
a. Go back to the bookstore and purchase another hat. b. Wait until the cost of the hat falls to $15 or less before purchasing another hat. c. Wait until the cost of the hat falls to $5 or less before purchasing another hat. d. Do not purchase another hat regardless of the price.