Which of the following is least accurate in characterizing changes in retailing in the second half of the 19th century?
a. Large growth in the number of department stores
b. Large growth in the number of chain stores
c. Large growth in the number of "general stores"
d. Large growth in the number of mail-order houses
c. Large growth in the number of "general stores"
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A firm’s fixed cost
A. does not vary with output. B. does not change between the short run and the long run. C. is generally a higher percentage of its total cost at high output quantities than at low output quantities. D. All of the above are true.
A uniform tax according to the physical quantities of pollution may not be the appropriate way to correct for an externality because
A) it places a unfair burden on small producers. B) a uniform tax can only account for social costs and not external costs. C) a firm will reduce production. D) it may not adequately account for economic damages.
If there was a federal budget surplus and the government decided to either increase spending or decrease taxes,
A. The budget surplus would get smaller. B. The budget surplus would remain unchanged. C. The budget surplus would get larger. D. None of the choices are correct.
List three different ways that a risk-averse person can reduce financial risk