Applications to MBA programs rose during the economic downturn in 2008. This is best explained by:
A) The opportunity cost of attending an MBA dropped for most applicants due to poor job prospects.
B) More teachers were available to teach MBA classes due to the lower opportunity cost of teaching.
C) The explicit costs of attending an MBA program fell in 2008.
D) The implicit costs of attending an MBA program rose in 2008.
A
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If smartwatches are considered substitutes for smartphones, the decline in the price of smartphones would, all else equal,
A) decrease the demand for smartwatches. B) increase the demand for smartwatches. C) increase the quantity of smartwatches demanded. D) decrease the quantity of smartwatches demanded.
If inventories decline by more than analysts predict they will decline, this implies that
A) actual investment spending was equal to than planned investment spending. B) there is no relationship between actual investment spending and planned investment spending. C) actual investment spending was greater than planned investment spending. D) actual investment spending was less than planned investment spending.