Exam1.docx - Question 1 2.5 out of 2.5 points If the cross...

 Question 1
2.5 out of 2.5 points
If the cross price elasticity measured between items A and B is positive, the two products are referred
to as:
 Question 2
2.5 out of 2.5 points
The moral hazard in team production arises from
 Question 3
0 out of 2.5 points
Which of the following demand factors are under the control of management?
 Question 4
2.5 out of 2.5 points
When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in
____ demanded, the net result being a constant total consumer expenditure.
 Question 5
2.5 out of 2.5 points
Those goods having a calculated income elasticity that is negative are called:

Answer: inferior goods
 Question 6
2.5 out of 2.5 points
The difference between economies of scale and economies of scope is:
 Question 7
2.5 out of 2.5 points
Managers should concentrate on maximizing shareholder value alone if which of the following
conditions are met?
 Question 8
2.5 out of 2.5 points
One commonly used test in checking for the presence of autocorrelation when working with time
series data is the ____.
 Question 9
2.5 out of 2.5 points
When there is multicollinearity in an estimated regression equation,