By definition, a firm that practices satisficing
A. maximizes its sales, not its profits.
B. makes acceptable decisions, though not necessarily optimal ones.
C. satisfies government guidelines instead of consumer demands.
D. minimizes the cost of gathering enough information to make an optimal decision.
Answer: B
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The interest rate that the Fed charges on loans made directly to banks is called ________.
A. the prime rate B. the discount rate C. interest on reserves D. the federal funds rate
Real business cycle theorists think that most business cycle fluctuations are caused by shocks to
A) the production function. B) the size of the labor force. C) the real quantity of government purchases. D) the spending and saving decisions of consumers.
The statistic most often used by economists to measure the value of economic activity is ________
A) GDP B) the CPI C) labor-force participation rate D) the nominal interest rate E) the real interest rate
Which of the following would cause the U.S. demand curve for Japanese yen to shift to the right?
a. An increase in the U.S. inflation rate compared to the rate in Japan. b. A higher real rate of interest on investments in Japan than on investments in the United States. c. The popularity of Japanese products increases in the United States. d. All of these.