Suppose recent and widely circulated medical article reports new benefits of cycling exercise. ...

Suppose recent and widely circulated medical article reports new benefits of cycling exercise. Simultaneously, the price of the parts needed to make bikes falls. If the change in supply is greater than the change in demand, the price will _________ and the quantity will _________.
a. Rise, rise
b. Rise, fall
c. Fall, rise
d. Fall, fall

QUESTION 2

The correlation coefficient ranges in value between 0.0 and 1.0.
a. true b. false

QUESTION 3

Which of the following is FALSE?
a. Maximizing division profits can sometimes lead to reducing company-wide profits
b. Managers of profit centers are given a lot of discretion in their decision making
c. Profit centers usually largely run themselves
d. A manager being rewarded on division revenues has no incentive to make good decisions for his division

QUESTION 4

Changes in prices of a good causes
a. Movement along the demand curve
b. Movement along the supply curve
c. No effect to either curve
d. Both a and b

QUESTION 5

Appendix: When using a multiplicative power function (Y = a X1b1X2b2X3b3) to represent an economic relationship, estimates of the parameters (a, and the b's) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship.
a. semilogarithmic
b. double-logarithmic
c. reciprocal
d. polynomial
e. cubic

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Suppose recent and widely circulated medical article reports new benefits of cycling exercise. ...

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