The most-favored customer is one who:
a. buys a firm's product regularly.
b. is an acquaintance of the owner of a firm.
c. is guaranteed to receive the lowest price for a product.
d. spends the maximum amount of money on a firm's product.
e. has a high purchasing power.
c
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Investors are often willing to take the risks associated with investing in capital goods in developing nations because developing nations
A) insure a small return on investment. B) always insure the investments. C) have a large portion of the world's unutilized or underutilized resources and hence profit potential. D) get the International Monetary Fund (IMF) to back investments through a series of loan guarantees.
The theory of land rent holds that
a. capital invested on any plot of land must yield the same return as capital invested on any other plot of land. b. the difference between the costs of producing on any two pieces of land must equal the difference between their rents. c. marginal land earns no rent. d. All of the above are correct.
The money for Social Security payments to current retirees comes from
A. payroll taxes collected from those retirees when they were working. B. income taxes collected from the current working population. C. payroll taxes collected from the current working population. D. only the interest earned now by the government on the invested Social Security trust fund.
Studentized residuals are obtained from the original OLS residuals by dividing them by an estimate of their standard deviation.
Answer the following statement true (T) or false (F)