A fixed cost is a cost which

A) varies in total with changes in the level of activity.
B) remains constant per unit with changes in the level of activity.
C) varies inversely in total with changes in the level of activity.
D) remains constant in total with changes in the level of activity.

Based on the assumptions of traditional economic theory,

A) we conclude that it is not possible to derive demand curves for consumers or cost curves for producers.
B) we construct a theory of consumer and producer behavior described by demand and cost curves, which assume that consumers and producers make decisions based on all available information.
C) we build theories that work, even when we assume a lack of perfect knowledge on the part of consumers and producers.
D) we build demand and cost curves that may behave in unpredictable ways, because we can't assume that consumers and producers make decisions based on all available information.

Car ads featuring attractive women have been found to be effective because the woman is:

A) modelling.
B) masking other effects.
C) vicarious.
D) a trigger feature.

What advice would you give to a manager about the effective use of expectancy theory as a model to improve motivation in their workplace?

Which type of damages would occur if the parties specify in advance the amount of losses or a formula in assessing the losses against the breaching party?

A) Consequential
B) Punitive
C) Liquidated
D) Nominal
E) Statutory

Which of the following is true regarding state courts of appeal?

A) States only have an intermediate court of appeal if there is no state supreme court.
B) In states that do not have an intermediate court of appeal, appeals go to the federal court of appeals.
C) In states that do not have an intermediate court of appeal, there is no right of appeal to any court.
D) All states in this country have intermediate courts of appeal.
E) Not all states have intermediate courts of appeal; in those states, appeals go to the state court of last resort.