An example of an investment is
A. the purchase of a share of Berkshire Hathaway stock.
B. the purchase of an iPhone by a company for one of its salesmen.
C. the purchase of a government Treasury bill.
D. all of the above
Answer: B
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Clark enjoys fishing and hunting. He divides his leisure hours between the two outdoor activities. Suppose we were to draw Clark's indifference curves for the two activities, placing fishing on the horizontal axis and hunting on the vertical axis. If Clark's indifference curves are bowed inward, then
a. the rate at which he is willing to give up an hour of hunting for an hour of fishing changes depending on how many hours of each activity he has done. For example, if Clark has already fished a lot in one week, he will be more willing to give up an hour of fishing for an hour of hunting than if he has only fished a little that week. b. the rate at which he is willing to give up an hour of hunting for an hour of fishing is constant because he must derive the same enjoyment out of each activity. c. the rate at which he is willing to give up an hour of hunting for an hour of fishing changes depending on how many hours of each activity he has done. For example, if Clark has already fished a lot in one week, he will be less willing to give up an hour of fishing for an hour of hunting than if he has only fished a little that week. d. Clark's indifference curves will not cross. When indifference curves are bowed outward, the indifference curves must cross.
For a company to convince consumers to use their products repeatedly, they must:
A. make the customers see the benefits of the product. B. hire another celebrity endorser. C. hire an independent company to evaluate the product. D. run the celebrity ads repeatedly.
Figure 17-10
Refer to . With trade and without a tariff, the price and domestic quantity demanded are
a.
P1 and Q1.
b.
P1 and Q4.
c.
P2 and Q2.
d.
P2 and Q3.
The percentage of African-Americans whose incomes are in the top 40% of income earners in the U.S. is
A. about 23%. B. about 50%. C. about 36%. D. about 40%