Rules of thumb that reduce computation costs are known as:
A. judgmental and decision heuristics.
B. optimality constraints.
C. cost-benefit calculations.
D. decision trees.
Answer: A
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When the government increases the level of official reserves by $50 million, the change is recorded in the
A) capital and financial account. B) current account. C) official settlements account. D) official reserves account. E) foreign currency account.
When considering setting the transfer price at the market price of a product similar to the intermediate good that is already available on the market
a. It is important to recognize that the market price includes a margin above marginal cost b. It is OK if the product on the market includes costly features your downstream division does not use c. it is OK if the product on the market is inexpensive because its quality is lower than you use d. if it is similar enough, it is justification for you producing it in-house
Population density varies little between the fifty states
a. True b. False Indicate whether the statement is true or false
If virtual reality headsets are considered substitutes for game consoles, then a decline in the price of game consoles would, all else equal
A) increase the demand for virtual reality headsets. B) decrease the demand for virtual reality headsets. C) increase the quantity of virtual reality headsets demanded. D) decrease the quantity of virtual reality headsets demanded.