Quiz 4 Spring 2012

Quiz 4 Spring 2012 - Quiz 4 Spring 2012 1. Printers and ink...

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Quiz 4 Spring 2012 1. Printers and ink are _____. That is, their cross-elasticity of demand is ______. a. complements … negative b. complements … positive c. substitutes … negative d. substitutes … positive 2. Your instructor thinks gasoline and aluminum are _____. That is, their cross-elasticity of demand is _____. a. complements … negative b. complements … positive c. substitutes … negative d. substitutes … positive 3. HP sells both printers and ink, and claims that its printers should use only HP ink. Thinking that people who do a lot of printing have a _____ elasticity of demand for a high-quality printer, they price to make a larger percentage profit on _____. a. lower … ink than on printers b. lower … printers than on ink c. higher … ink than on printers d. higher … printers than on ink 4. Under Raúl Castro, the Cuban government has _____ small private businesses. In 2011, Cuban-Americans made _____ visits to Cuba. a. encouraged …. 4,000 b. encouraged … 400,000 c. crushed … 4,000 d. crushed … 400,000 5. Raúl Castro says that Cuba will eventually _____ an additional one million workers in state enterprises. A rig leased from Repsol, a _____ company, is drilling for oil in Cuban waters. a. lay off Spanish b. lay off … Russian c. hire … Spanish d. hire … Russian e. hire … Chinese 6. German 38-year-old millionaire Kim Dotcom, the founder of Megaupload, was recently arrested in New Zealand on U.S. charges of ______. A New Zealand court will decide whether Mr. Dotcom will be ______ to the United States. a. IP piracy … expedited b. IP piracy … extradited c. tax evasion … expedited d. tax evasion … extradited
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7. U.S. prosecutors were able to have Mr. Dotcom arrested, even though he was in New Zealand, because a. there is a tax treaty between New Zealand and the United States. b. Megaupload had servers in Virginia. c. Mr. Dotcom entered New Zealand with a U.S. passport. d. he invited his New Zealand neighbors to a cocaine party. 8. The Swiss drug company Roche recently made a hostile $5.7 billion bid for the US firm Illumina, which specializes in ______. Your instructor thinks that the bid is best viewed in strategic terms as being intended to avoid another firm’s gaining a monopoly in a product that is expected to be a ______ Roche’s pharmaceuticals. a. analyzing DNA … complement to b. analyzing DNA … substitute for c. generic drugs … complement to d. generic drugs … substitute for 9. If you have a patent on product A, you would rather see a monopoly formed in product B if product B is a _____ product A. a. complement to b. substitute for 10. Along a given demand curve, the elasticity of demand for good A is the magnitude of the a. change in the quantity of good A demanded divided by the change in the price of good A.
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This note was uploaded on 03/12/2012 for the course GEB 3373 taught by Professor Crum during the Spring '10 term at University of Florida.

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Quiz 4 Spring 2012 - Quiz 4 Spring 2012 1. Printers and ink...

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