Which of the following examples would most likely convey product quality to consumers?
a. A sweater has a high price.
b. A printer is on sale.
c. A shoe has many items in stock.
d. A stove has brand recognition.
d. A stove has brand recognition.
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Refer to Figure 2-14. Which country has a comparative advantage in the production of popsicles?
A) Greenland B) They have equal productive abilities. C) Iceland D) neither country
Which of the following is TRUE of the Fed's credit policy?
A. Today about 40 percent of the Fed's asset holdings are related to its conduct of credit policy. B. The Fed's objective for its credit policy is to reduce the federal funds rate. C. The Fed has implemented a credit policy since 1914. D. The Fed's credit policy is extended only to U.S. financial institutions.
The following schedule gives the cost data for a firm. Total Product Long-Run Total Cost 10 $200 20 $300 30 $450 40 $600 50 $1,000 Diseconomies of scale start between
A. 0 and 10 units of output. B. 40 and 50 units of output. C. 20 and 30 units of output. D. 30 and 40 units of output.
We are using resources efficiently if we can produce more of one good without producing less of some other good that we value more highly
Indicate whether the statement is true or false