A study of consumers' attitudes toward labor standards for the products they buy revealed that consumers:
a. just do not care.
b. would completely change their buying patterns and want to be 100% sure that products they buy are made in foreign factories with good working conditions.
c. would pay a slight premium to ensure good working conditions.
d. are more concerned about the prices they pay than working conditions overseas.
Ans: c. would pay a slight premium to ensure good working conditions.
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An event driving gasoline prices higher from 2006 to 2008 was
A. conflict in Nigeria. B. growing energy use in China and India. C. Hurricanes Katrina and Rita. D. all of the answers are correct.
The domestic real interest rate (r) for a given country must be the same as the world real interest rate (rw) ________
A) if perfect capital mobility is assumed B) because with no barriers to capital flows, if rw > r domestic residents would just borrow abroad putting upward pressures on the domestic rate until both rates equal each other C) because with no barriers to capital flows, if rw < r domestic residents would only lend to foreigners putting downward pressures on the domestic rate until both rates equal each other D) all of the above E) none of the above
The figure below shows the demand for meals at lunch and dinner for a proposed new restaurant. Suppose the marginal cost of a meal (both lunch and dinner) is constant at $10 per meal and marginal cost of providing the capacity is constant at $5 per meal. Once the managers have determined the profit-maximizing capacity, at dinner they will serve ________ meals and set a price of ________ per meal.
A) 200; $35 B) 800; $25 C) 200; $20 D) 600; $30
Tara buys 4 alternative rock CDs when price is $10 and only 2 when price is $14 . Using the method of average values, her price elasticity of demand for alternative rock CDs is
a. 0.00 b. 0.50 c. 2.00 d. 5.00 e. 10.0