"Starbucks chief Howard Schultz frowns on research, advertising, and customer surveys. He conducts his own informal primary research by visiting 25 store locations a week and talking with his baristas, managers, and customers in person. This kind of observation, he insists, provides the information he needs most.12 What are the pros and cons of such informal research to gather primary data?"

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.