Management as it relates to home and family life was talked about for centuries but it became a formal study in the U.S. (and since worldwide) in the ____ century: a. 17th b. 18th c. 19th d. 20th ANSWER C
Date: September 9th, 2020
In the Hotelling model, firms can avoid price competition by differentiating their products. Indicate whether the statement is true or false ANSWER T The firms can locate at the ends of the Hotelling’s Main Street, so their prices have small rather than large effects on their competition for sales.
Date: September 9th, 2020
The Drug Price Competition and Patent Term Restoration Act of 1984 fostered competition from generic drugs by facilitating their approval. Indicate whether the statement is true or false ANSWER T The Act eliminated duplication of the original drug approval process and replaced it with a requirement to show equivalence, which could be done and […]
Date: September 9th, 2020
According to psychologist __________, physiological needs must be met before higher-order needs are undertaken. a. Abraham Maslow b. Peter Drucker c. A. J. Boothe d. Sal Schilling ANSWER A
Date: September 9th, 2020
The practice of tying can be used as a means of discriminating in price between two different customers. Indicate whether the statement is true or false ANSWER T International Salt and IBM are two examples where such use of tying would be able to accomplish price discrimination.
Date: September 9th, 2020
In 1879 . President Rutherford B. Hayes had the first telephone installed in the White House, but it was rarely used because: a. he didn’t know what it was b. it kept breaking and no one could fix it c. hardly anyone else in Washington had a telephone, so there was no one to call […]
Date: September 9th, 2020
The Internet might alter incentives of firms in locating their stores. Indicate whether the statement is true or false ANSWER T The Internet invites firms to consider the travel and convenience costs of customers (who have the alternative of purchasing on the Internet) instead of just trying to outdo competitors in locating close to […]
Date: September 9th, 2020
A demographic trend is that: a. Individuals increasingly put off marriage and childbirth to later years b. The number of families is decreasing c. Families are the same as they were two decades ago d. Grandparents matter less than they used to ANSWER A, pages 21-23
Date: September 9th, 2020
A profit-maximizing monopoly will choose advertising expenditures so the ratio of advertising expenditures to total revenue is equal to the ratio of advertising elasticity to price elasticity (in absolute value). Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Earliest records of management (who does what) are found on the walls of cave dwellings in: a. Siberia b. Rome c. Western Europe, most notably France d. Nigeria ANSWER C
Date: September 9th, 2020
