Which of these is an example of a controllable factor for a firm that sells pizzas
a. The price of the pizza
b. The delivery rates of the pizza
c. The quality of the wings sold by the street vendor across the street
d. Both A & B
Ans: a. The price of the pizza
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According to the economic way of thinking, government officials tend to vote on legislation that
A) concentrates benefits on a well-organized group. B) disperses costs throughout a great number of politically unorganized people. C) generates short-term benefits and postpones the costs. D) does all of the above. E) does none of the above.
If people act as if they systematically pursue their own self-interest, then they will most likely
A) respond irrationally to any incentive. B) respond to a given incentive in a random manner. C) respond predictably to a given incentive. D) not respond to any incentive.
All of the following are part of the global financial system EXCEPT the ________.
A) New York Stock Exchange B) World Trade Organization C) International Monetary Fund D) Bank for International Settlements
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.