Which industry or sector of the economy would least likely be affected by the business cycle?
A. Automobiles
B. Capital goods
C. Services
D. Consumer durables
Answer: C
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From the apartment landlord's perspective, what might be a substitute use of his rental property?
A) A parking lot B) An office complex C) A condominium D) Any of the above. E) Definitely none of the above.
Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price decreases from $5 to $2?
A) 0.64 B) 1.25 C) 1.75 D) 2
A manager invests $400,000 in a technology that should reduce the overall costs of production. The company managed to reduce their cost per unit from $2 to $1.85 . This affects
a. Economic profits b. Accounting profits c. Both a and b d. None of the above
In the market for euros, Americans want to buy euros
a. only to buy goods from European firms b. primarily to buy services from European firms c. only to buy European assets d. only to buy European goods and assets e. to buy European goods, services, and assets