The passage of major pieces of consumer protection legislation in the postwar period
a. was one of the most dramatic development of that period.
b. was influenced by the "red scare," and other hysteria over rumors of deliberate sabotage of consumer products.
c. often were the result of highly visible public tragedies.
d. Both a and b are correct.
e. Both a and c are correct.
e. Both a and c are correct.
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It always rains about an hour after you finish washing your car. Concluding that washing your car caused it to rain is an example of the
A. post hoc, ergo propter hoc fallacy. B. ceteris paribus conditions. C. fallacy of inductive reasoning. D. fallacy of logic.
A. Everything else remaining unchanged, what is likely to happen to the demand curve for coffee workers if:
i. there is a fall in the price of coffee. ii. there is an increase in the wage rate. iii. there is a rise in the price of coffee seeds. iv. a new fertilizer that increases the productivity of coffee farmers is invented. b. Everything else remaining unchanged, what is likely to happen to the supply curve of female workers if: i. the opportunity cost of working outside home decreases. ii. there is an increase in the wage rates.
Why are estimated models of demand and consumer behavior useful to managers?
What will be an ideal response?
Which of the following are characteristics of a Perfectly Competitive Industry?
(a) Few buyers and sellers. (b) Heterogeneous products. (c) Homogeneous products. (d) Barriers to entry and exit.