Which of the following is classified as an intermediate good?
i. the purchase of a Big Mac by a college student
ii. McDonald's purchase of pickles
iii. a McDonald's restaurant owner's interest payment for the loan on her building
A) ii only B) ii and iii C) i and iii D) i only E) i, ii and iii
A
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Economic profits and losses are true market signals because they
A) convey information in an asymmetrical fashion. B) convey information about rewards people should anticipate experiencing by shifting resources from one activity to another. C) convey information to public officials about where to encourage people to invest and what skills people should develop. D) cause people to move into careers in both undesirable and desirable industries with equal ease.
The 1990s saw
A) a return to family businesses. B) a flattening of organizations. C) a heightening of organizations. D) an increase in bureaucratic forms of business.