A small business owner who is earning a positive economic profit, no matter how small, is doing better than if he or she sold his or her business and went to work for another firm.

Data Driven Decision Making Kroger Groceries provides store managers flexibility to determine prices for a number of popular items they carry because demand is affected primarily by local conditions that managers are more aware of. To make sure managers

use this discretion wisely, managers are rewarded with bonuses based on quarterly sales. With improvements in data collection and analysis, the "quants" in corporate headquarters can run many small experiments. Doing so allows them to understand nuanced patterns in consumer demand that had been un-noticed previously. How does this affect manager compensation?

The foreign exchange rate can be influenced by the Federal Reserve

a. True b. False