True or False Statistics can be used as an inferential device for using sample findings to draw conclusions about a population
Indicate whether the statement is true or false
T
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An economy has 100 households. The ten rich households each have incomes of $50,000 in period 1 and $75,000 in period 2. The ninety poor households each have incomes of $20,000 in period 1 and $25,000 in period 2. Assume that the price of the good is $1 in both periods. Also assume that the households borrow from each other. Suppose that each household decides that its consumption in period 1 will equal 50 percent of the present value of its income from both periods. The equilibrium real interest rate is about
A. 20 percent. B. 30 percent. C. 40 percent. D. 50 percent.
Explain why the cost of employing someone is more than just the wage or salary paid to the employee
In June, The Seascape Gallery sells an oil painting to Collegiate Systems, Inc Collegiate promises to pay for the painting in three months. The gallery prepares a draft ordering Collegiate Systems to pay $3,000 to First Bank on September 15 . Collegiate Systems signs the draft. The draft is a
a. sight draft. b. time draft. c. trade draft. d. future draft.
Which of the following statements about personal selling is FALSE?
A. A salesperson is often a representative of the whole company. B. Personal selling is often a company's smallest single operating expense. C. Good salespeople present both the advantages and the disadvantages of their products. D. Helping to buy is good selling.