A. rule
B. attitude
C. belief
D. cute
Related Mcqs:
- If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?
A. Product idea
B. Product image
C. Product concept
D. Product features - Refer to Exhibit 4. Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 If the price of a belt is €10 and the price of a pair of socks is €5, the consumer will choose to buy the commodity bundle represented b point ?
A. Z
B. X
C. Y
D. the optimal point cannot be determined from this graph - Jamil’s car is in need of repair, so John decides to sell it avoid the repair bill. Unaware of the problem, Shahab buys the car. This is an example of ?
A. hidden actions
B. adverse selection
C. moral hazard
D. adverse selection - Nicole wants to avoid buying a car that is a lemon. She takes a car she would like to buy to her mechanic before she purchases it. This is known as ?
A. screening
B. signaling
C. moral hazard
D. adverse selection - Which best describes consumer surplus ?
A. The price consumers are willing to pray for a unit
B. The cost of providing a unit
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he/she is willing to pay - With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
A. 20 calculators increase
B. 25 calculators decrease
C. 25 calculators increase
D. 30 calculators increase - A reduction in interest rates, causes an increases in the monetary base that results in an _________ in the availability of consumer credit and a ________ in the cost of consumer credit?
A. reduction, increase
B. reduction, reduction
C. increase, reduction
D. increase , increase - If an increase in a consumer’s income causes the consumer to increase his quantity demand of a good, then the good is ?
A. a complementary good
B. an inferior good
C. a normal good
D. a substitute good - Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 Suppose that the price of a pair of socks falls from €5 to €2 The substitution effect is represented by the movement from point ?
A. Z to point X
B. X to point X
C. X to point Z
D. Y to point X - Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 A pair of socks is ?
A. an inferior effect
B. a Geffen good
C. a normal good
D. none of these answers
