According to behavioral economics, placement of goods in retail stores is often designed to accomplish which of the following?
A. Maximize impulse buying by consumers.
B. Minimize shelving costs.
C. Maximize convenience for customers.
D. Maximize the amount of product the store can display.
Answer: A
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Which of the following statements is TRUE?
A) consumption + saving = disposable income B) consumption + saving = personal income C) consumption - investment = disposable income D) consumption - saving = personal income
Which of the following best describes how recessions are illustrated in the AD/AS diagram?
a. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially above potential GDP, while in years of resurgent economic growth the equilibrium will typically be close to potential GDP. b. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially below potential GDP, while in years of resurgent economic growth the equilibrium will typically be above potential GDP. c. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially below potential GDP, while in years of resurgent economic growth the equilibrium will typically be close to potential GDP. d. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially above potential GDP, while in years of resurgent economic growth the equilibrium will typically be below potential GDP.
The concentration ratio for an industry can be increased almost overnight by
a. collusion among the leading four firms b. the creation of a cartel c. a conglomerate merger d. a vertical merger e. a horizontal merger
What is a production function?
a. A relationship between a firm's profits and the technology it uses in its production processes. b. A relationship between the cost and revenue of a firm associated with each possible output level. c. A relationship between any combination of input services and the maximum attainable output from that combination. d. The relationship between a worker's education and his or her ability to be a productive employee.