Stephen R. Covey's book The 7 Habits of Highly Effective People has as the final 7th Habit the following:
a. Sharpen the saw
b. Be proactive
c. Synergize
d. Think win-win
A
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Which of the following would be most likely to induce Congress and the president to conduct contractionary fiscal policy? A significant
A) decrease in oil prices. B) increase in labor productivity. C) increase in inflation. D) decrease in real GDP.
List five types of barriers to entry
What will be an ideal response?
You are planning to open a new Italian restaurant in your hometown where there are three other Italian restaurants
You plan to distinguish your restaurant from your competitors by offering northern Italian cuisine and using locally grown organic produce. What is likely to happen in the restaurant market in your hometown after you open? A) Your competitors are likely to change their menus to make their products more similar to yours. B) While the demand curves facing your competitors becomes more elastic, your demand curve will be inelastic. C) The demand curve facing each restaurant owner becomes more elastic. D) The demand curve facing each restaurant owner shifts to the right.
Who are the only ones not affected when a Pigouvian subsidy is implemented for a positive externality in a market?
A. Consumers B. Those affected by the externality C. Producers D. All of these groups are affected when it becomes internalized.