Micro
What is a market structure with only a few buyers?
Oligopsony
What is an overt cooperation between oligopolists to set common policies?
Collusion
A diagram that shows the employees involved in a business and the lines of authority and communication among them
Organizational Chart
What type of data is a likely candidate for the problem of autocorrelation?
time series data
In a LP solution, what term is used for any unused capacity associated with a less than or equal to constraint?
Slack
What term refers to producing a good in the least costly way.
Production Efficiency
The Socially Efficient level of emissions is the level where Marginal Abatement Costs equal _____.
Marginal damage costs
What is a castrated lamb called?
Wether
What axiom of preferences means that indifference curves cannot cross?
Transitivity
What term refers to the number of products that a firm offers within one category or line?
length
A merger between firms that sell dissimilar products would be what type?
Conglomerate merger
What type of are goods and services can be itemized in market transactions?
Visibles
What is the process of inferring values by projecting trends beyond existing data called?
extrapolation
Define the P/E ratio
Stock price per share divided by earnings per share
The wastewater, treated or untreated, that flows out of a treatment plant, sewer, or industrial outfall is called _________ .
Effluent
Which two presidents died on the same day?
Thomas Jefferson and John Adams
A net loss in total surplus is called a(n) ____________ loss.
deadweight
As opposed to a national brand, a retailer's brand name for products only distributed in its stores is called?
private label
What financial document best indicates the repayment capacity of a firm?
Cash flow
If we observe a one-for-one adjustment of the nominal interest rate to the inflation rate, we have evidence of what market phenomenon?
The Fischer Effect
What theorem states that if an infinite number of random samples are taken from a population the distribution of the sample means will be normal?
Central Limit Theorem
A(n) __________ ___________ is the mechanism by which unhappy stockholders can act to replace existing management
proxy fight
LISA is an alternative method of agriculture that reduces the application of purchased inputs such as fertilizer, pesticides, and herbicides. Give the complete name represented by the acronym.
Low-Input Sustainable Agriculture
For what does the acronym "TINSTAAFL" stand?
There is no such thing as a free lunch
The curve that contacts the two diagonal corners of an Edgeworth's Box is called the ___________curve.
Contact curve
What marketing law states that the territorial boundary between two or more markets is a locus of points such that the final selling prices are equal for sellers in each market?
Law of market areas
What type of taxes are those estimated to be due if assets were liquidated at the market value shown on the balance sheet?
Contingent Income Tax
In many retail stores price markdowns are now determined by computer. The "middle managers" that used to make these decisions have experienced what type of unemployment?
Structural unemployment
In linear programming, the term ____________ is used to describe whether a resource constraint is a minimum constraint, a maximum constraint, or an equality.
type
The portion of a nominal interest rate that represents compensation for expected future inflation is called the _________ ___________
Inflation premium
Particularly important in agricultural agreements, what is the index used by the WTO that measures the monetary value of the extent of government support to a sector, abbreviated AMS?
Aggregate Measure of Support
In the marketing of cotton, the term staple is used to describe:
length of the cotton fiber
What type of price discrimination, also known as block pricing, involves selling different quantities of goods at different prices?
second-degree
Name the five forces in Michael Porter's Five Forces Model.
Rivalry among existing firms, Bargaining power of suppliers, Bargaining power of buyers, Threat of new entrants, Threat of substitute products
When a firm has more profitable or acceptable investment projects than its has available funds, it must engage in ______________.
capital rationing
What happens to the net export curve if the government imposes trade restrictions on imported goods?
Shifts to the right (or shifts out)
In addition to being descriptive, what is another common use of indexes?
To deflate price or income series
Which of the following item(s) would not be included on a projected cash flow budget?
A. Owner's equity
B. Annual depreciation
C. Receipts from the sale of commodities
A&B
The ______ _______ is the maximum price anyone is willing to pay for any unit of a resource. At any price higher, the demand for the resource is zero.
choke price
How did Wall Street get its name?
The street was next to a wall that was built to keep pigs out of the grain fields of colonial New York City farmers