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External link to Question : 31. (p. 360) Global competition placing new emphasis some basic tenets of business. : 1242093
Economics

Question : 31. (p. 360) Global competition placing new emphasis some basic tenets of business. : 1242093

    31. (p. 360) Global competition is placing new emphasis on some basic tenets of business. All of the following represent the major trends EXCEPT:  A. longer product life cycles. B. importance of quality. C. competitive prices. D. innovative products. E. shift of power from sellers’ to customers’ market. 32. (p. 361) Which are the two dimensions of quality?  A. Product quality and process quality B. Market-perceived quality and performance quality C. Product quality and service quality D. Actual […]

External link to Question : 181.Supposethat50hotdogsaredemandedataparticularprice.Ifthepriceofhotdogsrisesfromthatpriceby5percent,thenumberofhotdogsdemandedfallsto48.Usingthemidpointapproachtocalculatethepriceelasticityofdemand,itfollowsthatthe : 1262375
Economics

Question : 181.Supposethat50hotdogsaredemandedataparticularprice.Ifthepriceofhotdogsrisesfromthatpriceby5percent,thenumberofhotdogsdemandedfallsto48.Usingthemidpointapproachtocalculatethepriceelasticityofdemand,itfollowsthatthe : 1262375

  181.Supposethat50hotdogsaredemandedataparticularprice.Ifthepriceofhotdogsrisesfromthatpriceby5percent,thenumberofhotdogsdemandedfallsto48.Usingthemidpointapproachtocalculatethepriceelasticityofdemand,itfollowsthatthe a.demandforhotdogsinthispricerangeisunitelastic. b.priceincreasewilldecreasethetotalrevenueofhotdogsellers. c.priceelasticityofdemandforhotdogsinthispricerangeisabout1.22. d.priceelasticityofdemandforhotdogsinthispricerangeisabout0.82. 182.Supposethat300bottlesofsodaaredemandedataparticularprice.Ifthepriceofabottleofsodarisesfromthatpriceby6percent,thenumberofbottlesofsodademandedfallsto275.Usingthemidpointapproachtocalculatethepriceelasticityofdemand,itfollowsthatthe a.demandforbottlesofsodainthispricerangeisperfectlyelastic. b.priceincreasewillincreasethetotalrevenueofsodasellers. c.priceelasticityofdemandforbottlesofsodainthispricerangeisabout0.69. d.priceelasticityofdemandforbottlesofsodainthispricerangeisabout1.45. 183.Whenauniversitybookstorepriceschemistrytextbooksat$200each,itgenerallysells120bookspermonth.Ifitlowersthepriceto$160,salesincreaseto160bookspermonth.Giventhisinformation,weknowthatthepriceelasticityofdemandforchemistrybooksisabout a.1.29,andadecreaseinpricefrom$200to$160resultsinanincreaseintotalrevenue. b.1.29,andadecreaseinpricefrom$200to$160resultsinadecreaseintotalrevenue. c.0.78,andadecreaseinpricefrom$200to$160resultsinanincreaseintotalrevenue. d.0.78,andadecreaseinpricefrom$200to$160resultsinadecreaseintotalrevenue. 184.Acitywantstoraiserevenuestobuildanewmunicipalswimmingpoolnextyear.Themayorsuggeststhatthecityraisethepriceofadmissiontothecurrentmunicipalpoolsthisyeartoraiserevenues.Thecitymanagersuggeststhatthecitylowerthepriceofadmissiontoraiserevenues.Whoiscorrect? a.themayor b.thecitymanager c.Theanswerdependsonthepriceelasticityofdemand. d.Theanswerdependsonthecostsofconstructionofthenewmunicipalswimmingpool. 185.Acitywantstoraiserevenuestobuildanewmunicipalswimmingpoolnextyear.Themayorsuggeststhatthecityraisethepriceofadmissiontothecurrentmunicipalpoolsthisyeartoraiserevenues.Thecitymanagersuggeststhatthecitylowerthepriceofadmissiontoraiserevenues.Whoiscorrect? a.Boththemayorandcitymanagerwouldbecorrectifdemandwerepriceelastic. b.Boththemayorandcitymanagerwouldbecorrectifdemandwerepriceinelastic. c.Themayorwouldbecorrectifdemandwerepriceelastic;thecitymanagerwouldbecorrectifdemandwerepriceinelastic. d.Themayorwouldbecorrectifdemandwerepriceinelastic;thecitymanagerwouldbecorrectifdemandwerepriceelastic. 186.Youhavejustbeenhiredasabusinessconsultanttodeterminewhatpricingpolicywouldbeappropriatetoincreasethetotalrevenueofabakery.Thefirststepyouwouldtakewouldbeto a.increasethepriceofeveryloafofbreadinthestore. b.lookforwaystocutcostsandincreaseprofitforthebakery. c.determinethepriceelasticityofdemandforthebakery’sproducts. d.determinethepriceelasticityofsupplyforthebakery’sproducts. 187.Youareinchargeofthelocalcity-ownedaquaticcenter.Youneedtoincreasetherevenuegeneratedbytheaquaticcentertomeetexpenses.Themayoradvisesyoutoincreasethepriceofadaypass.Thecitymanagerrecommendsreducingthepriceofadaypass.Yourealizethat a.themayorthinksdemandiselastic,andthecitymanagerthinksdemandisinelastic. b.boththemayorandthecitymanagerthinkthatdemandiselastic. c.boththemayorandthecitymanagerthinkthatdemandisinelastic. d.themayorthinksdemandisinelastic,andthecitymanagerthinksdemandiselastic. 188.GetSmartUniversityiscontemplatinganincreaseintuitiontoenhancerevenue.IfGSUfeelsthatraisingtuitionwouldenhancerevenue,itis a.ignoringthelawofdemand. b.assumingthatthedemandforuniversityeducationiselastic. c.assumingthatthedemandforuniversityeducationisinelastic. d.assumingthatthesupplyofuniversityeducationiselastic. 189.Ifthepriceelasticityofdemandforapplesis0.8,thena2.4%increaseinthepriceofappleswilldecreasethequantitydemandedofapplesby a.1.92%,andapplessellers’totalrevenuewillincreaseasaresult. b.1.92%,andapplessellers’totalrevenuewilldecreaseasaresult. c.3%,andapplessellers’totalrevenuewillincreaseasaresult. d.3%,andapplessellers’totalrevenuewilldecreaseasaresult. 190.Ifthepriceelasticityofdemandforaluminumfoilis1.45,thena2.4%decreaseinthepriceofaluminumfoilwillincreasethequantitydemandedofaluminumfoilby a.1.66%,andaluminumfoilsellers’totalrevenuewillincreaseasaresult. b.1.66%,andaluminumfoilsellers’totalrevenuewilldecreaseasaresult. c.3.48%,andaluminumfoilsellers’totalrevenuewillincreaseasaresult. d.3.48%,andaluminumfoilsellers’totalrevenuewilldecreaseasaresult.    

External link to Question : 41) The Lucas supply model, in combination with the assumption : 1381263
Economics

Question : 41) The Lucas supply model, in combination with the assumption : 1381263

  41) The Lucas supply model, in combination with the assumption that expectations are rational, leads to the conclusion that A) expansionary policies, but not contractionary policies, can have an impact on real output. B) contractionary policies, but not expansionary policies, can have an impact on real output. C) only unanticipated policy changes can have an impact on output. D) neither anticipated nor unanticipated policy […]

External link to Question : 34.              A data storage device listing each customer, along with : 1369996
Economics

Question : 34.              A data storage device listing each customer, along with : 1369996

    34.              A data storage device listing each customer, along with all the credit sales made to, as well as payments received on account from that customer is called a(n): A)aging schedule B)marketing survey C)sales returns and allowances report D)subsidiary accounts receivable ledger   35.              On December 1, 2010, Commonwealth Industries received a $10,000 deposit from a customer for a special order of merchandise […]

External link to Question : 31) Some economists have argued that path dependence and switching : 1245190
Economics

Question : 31) Some economists have argued that path dependence and switching : 1245190

    31) Some economists have argued that path dependence and switching costs can lead to market failure. Which of the following is an example of this argument? A) Costly celebrity endorsements lead many consumers to buy a product even though it is more expensive or less effective than a product that is not endorsed by a celebrity. B) A consumer who won a lottery […]

External link to Question : 41) Since 1980, the percentage of part-time workers who part : 1238462
Economics

Question : 41) Since 1980, the percentage of part-time workers who part : 1238462

  41) Since 1980, the percentage of part-time workers who are part time for economic reasons A) has steadily decreased. B) has steadily increased. C) at first increased, then generally decreased. D) generally increased in recessions and decreased in expansions. E) has remained approximately constant. 42) During a recession, the percentage workers who are part time for economic reasons A) increases more rapidly than the […]

External link to Question : 91. An underwriter issues a firm commitment to sell 1 million : 1284333
Economics

Question : 91. An underwriter issues a firm commitment to sell 1 million : 1284333

    91. An underwriter issues a firm commitment to sell 1 million shares at $20 each, including a $2 spread. How much does the issuing firm receive if only 500,000 shares are sold?  A. $9 million B. $10 million C. $18 million D. $20 million 92. Which of the following is correct if an underwriter is selling stock to the public at $40 per share, the underwriter receives a $3 […]

External link to Question : 61. Which of the following statements true regarding variance analysis in : 1291608
Economics

Question : 61. Which of the following statements true regarding variance analysis in : 1291608

  61. Which of the following statements is true regarding variance analysis in the modern manufacturing environment? A. It requires all variances, regardless of size, to be investigated by managers.B. The use of ideal standards over practical standards will always be the best motivator to employees.C. An “unfavorable” variance should always be interpreted as “bad”.D. It is often not available in a timely enough manner to be useful to employees.   […]

External link to Question : 147.Financing activities involve a.lending money to other entities and collecting those : 1311969
Economics

Question : 147.Financing activities involve a.lending money to other entities and collecting those : 1311969

    147.Financing activities involve a.lending money to other entities and collecting on those loans. b.cash receipts from sales of goods and services. c.acquiring and disposing of productive long-lived assets. d.long-term liability and owners’ equity items.     148.              The information to prepare the statement of cash flows usually comes from each of the following except a.the comparative balance sheet. b.the retained earnings statement. c.additional […]

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July 1, 2023
    

 

 

51) A student at New York University used to take the Redhound bus when she visited her grandmother in Boston. After graduating, although the bus fare and the plane fare were the same as they were when she was a student with a well-paid job on Wall Street, she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is

A) a normal good.

B) an inferior good.

C) a substitute good.

D) a complement good.

E) a good with negative preferences.

52) If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are

A) a normal good.

B) an inferior good.

C) a substitute for camcorders.

D) a complement to camcorders.

E) made using advanced technology.

 

53) Lesley buys 6 cappuccinos per week when her income is $900 per week and buys 8 cappuccinos per week when her income is $1100 per week.  For Lesley, cappuccinos are a(n) ________ good.

A) normal

B) luxury

C) inferior

D) substitute

E) essential

 

54) If the demand for a good increases when people's incomes increase,

A) the good is an inferior good.

B) the law of demand is violated.

C) the good's demand curve must be slope upward.

D) the good is a normal good.

E) the good is a substitute good for an inferior good.

55) In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?

A) The demand curve would shift leftward.

B) The demand curve would not shift, but the price of dining out would rise.

C) The effect on the demand curve is unknown.

D) The demand curve would shift rightward.

E) The demand curve would not shift, but the price of dining out would fall.

 

56) If macaroni and cheese is an inferior good, then a decrease in income results in

A) an increase in the demand for macaroni and cheese.

B) a decrease in the demand for macaroni and cheese.

C) an increase in the supply of macaroni and cheese.

D) a decrease in the supply of macaroni and cheese.

E) Both answers A and D are correct.

 

57) If income increases and the demand for bus rides decreases,

A) bus rides are a normal good.

B) consumers are behaving irrationally.

C) bus rides are an inferior good.

D) bus rides are a substitute good.

E) bus rides must be a complement good with some other good.

58) Which of the following is true?

A) For an inferior good, when income increases, the demand curve shifts leftward.

B) If the price of a substitute rises, the demand curve shifts leftward.

C) If people expect the price of a good will rise in the future, the demand curve shifts leftward.

D) An increase in population shifts the demand curve leftward.

E) An increase in the cost of producing a good shifts the demand curve leftward.

 

59) Ramen noodles are a staple food item for many college students. Ramen noodles are very inexpensive, easy to prepare, and can be combined easily with other foods. After students graduate, find employment, and earn a higher income, they decrease their Ramen noodle purchases significantly. In this case, Ramen noodles are

A) a normal good.

B) an inferior good.

C) a complement for higher income people.

D) a substitute good.

E) None of the above answers is correct.

 

60) Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following occurs immediately?

A) The quantity of bottled water demanded increases.

B) The quantity of bottled water demanded decreases.

C) The demand for bottled water decreases.

D) The demand for bottled water increases.

E) None of the above answers is correct because it is the supply that immediately changes, not the demand.

 

 

default image
July 1, 2023
    

 

 

51) A student at New York University used to take the Redhound bus when she visited her grandmother in Boston. After graduating, although the bus fare and the plane fare were the same as they were when she was a student with a well-paid job on Wall Street, she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is

A) a normal good.

B) an inferior good.

C) a substitute good.

D) a complement good.

E) a good with negative preferences.

52) If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are

A) a normal good.

B) an inferior good.

C) a substitute for camcorders.

D) a complement to camcorders.

E) made using advanced technology.

 

53) Lesley buys 6 cappuccinos per week when her income is $900 per week and buys 8 cappuccinos per week when her income is $1100 per week.  For Lesley, cappuccinos are a(n) ________ good.

A) normal

B) luxury

C) inferior

D) substitute

E) essential

 

54) If the demand for a good increases when people's incomes increase,

A) the good is an inferior good.

B) the law of demand is violated.

C) the good's demand curve must be slope upward.

D) the good is a normal good.

E) the good is a substitute good for an inferior good.

55) In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?

A) The demand curve would shift leftward.

B) The demand curve would not shift, but the price of dining out would rise.

C) The effect on the demand curve is unknown.

D) The demand curve would shift rightward.

E) The demand curve would not shift, but the price of dining out would fall.

 

56) If macaroni and cheese is an inferior good, then a decrease in income results in

A) an increase in the demand for macaroni and cheese.

B) a decrease in the demand for macaroni and cheese.

C) an increase in the supply of macaroni and cheese.

D) a decrease in the supply of macaroni and cheese.

E) Both answers A and D are correct.

 

57) If income increases and the demand for bus rides decreases,

A) bus rides are a normal good.

B) consumers are behaving irrationally.

C) bus rides are an inferior good.

D) bus rides are a substitute good.

E) bus rides must be a complement good with some other good.

58) Which of the following is true?

A) For an inferior good, when income increases, the demand curve shifts leftward.

B) If the price of a substitute rises, the demand curve shifts leftward.

C) If people expect the price of a good will rise in the future, the demand curve shifts leftward.

D) An increase in population shifts the demand curve leftward.

E) An increase in the cost of producing a good shifts the demand curve leftward.

 

59) Ramen noodles are a staple food item for many college students. Ramen noodles are very inexpensive, easy to prepare, and can be combined easily with other foods. After students graduate, find employment, and earn a higher income, they decrease their Ramen noodle purchases significantly. In this case, Ramen noodles are

A) a normal good.

B) an inferior good.

C) a complement for higher income people.

D) a substitute good.

E) None of the above answers is correct.

 

60) Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following occurs immediately?

A) The quantity of bottled water demanded increases.

B) The quantity of bottled water demanded decreases.

C) The demand for bottled water decreases.

D) The demand for bottled water increases.

E) None of the above answers is correct because it is the supply that immediately changes, not the demand.

 

 

default image
July 1, 2023
    

 

 

51) A student at New York University used to take the Redhound bus when she visited her grandmother in Boston. After graduating, although the bus fare and the plane fare were the same as they were when she was a student with a well-paid job on Wall Street, she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is

A) a normal good.

B) an inferior good.

C) a substitute good.

D) a complement good.

E) a good with negative preferences.

52) If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are

A) a normal good.

B) an inferior good.

C) a substitute for camcorders.

D) a complement to camcorders.

E) made using advanced technology.

 

53) Lesley buys 6 cappuccinos per week when her income is $900 per week and buys 8 cappuccinos per week when her income is $1100 per week.  For Lesley, cappuccinos are a(n) ________ good.

A) normal

B) luxury

C) inferior

D) substitute

E) essential

 

54) If the demand for a good increases when people's incomes increase,

A) the good is an inferior good.

B) the law of demand is violated.

C) the good's demand curve must be slope upward.

D) the good is a normal good.

E) the good is a substitute good for an inferior good.

55) In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?

A) The demand curve would shift leftward.

B) The demand curve would not shift, but the price of dining out would rise.

C) The effect on the demand curve is unknown.

D) The demand curve would shift rightward.

E) The demand curve would not shift, but the price of dining out would fall.

 

56) If macaroni and cheese is an inferior good, then a decrease in income results in

A) an increase in the demand for macaroni and cheese.

B) a decrease in the demand for macaroni and cheese.

C) an increase in the supply of macaroni and cheese.

D) a decrease in the supply of macaroni and cheese.

E) Both answers A and D are correct.

 

57) If income increases and the demand for bus rides decreases,

A) bus rides are a normal good.

B) consumers are behaving irrationally.

C) bus rides are an inferior good.

D) bus rides are a substitute good.

E) bus rides must be a complement good with some other good.

58) Which of the following is true?

A) For an inferior good, when income increases, the demand curve shifts leftward.

B) If the price of a substitute rises, the demand curve shifts leftward.

C) If people expect the price of a good will rise in the future, the demand curve shifts leftward.

D) An increase in population shifts the demand curve leftward.

E) An increase in the cost of producing a good shifts the demand curve leftward.

 

59) Ramen noodles are a staple food item for many college students. Ramen noodles are very inexpensive, easy to prepare, and can be combined easily with other foods. After students graduate, find employment, and earn a higher income, they decrease their Ramen noodle purchases significantly. In this case, Ramen noodles are

A) a normal good.

B) an inferior good.

C) a complement for higher income people.

D) a substitute good.

E) None of the above answers is correct.

 

60) Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following occurs immediately?

A) The quantity of bottled water demanded increases.

B) The quantity of bottled water demanded decreases.

C) The demand for bottled water decreases.

D) The demand for bottled water increases.

E) None of the above answers is correct because it is the supply that immediately changes, not the demand.

 

 

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Philosophy, 5 pages
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August 5, 2021
    

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Psychology, 4 pages
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August 5, 2021
    

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