Unlike consumers and business firms, the public sector has no maximizing goals.
Answer the following statement true (T) or false (F)
False
The public sector's goal is welfare maximization.
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The three major components of a bond are the bond price, maturity date, and coupon rate.
Answer the following statement true (T) or false (F)
Which of the following is likely to lead to a decrease in the demand for tennis balls?
A. An increase in the expected future price of tennis balls. B. An increase in the price of tennis racquets. C. An increase in the price of tennis balls. D. An increase in the price of the rubber used to make tennis balls.
Concentration ratios measure the:
A. geographic location of the largest corporations in each industry. B. degree to which product price exceeds marginal cost in various industries. C. percentage of total industry sales accounted for by the largest firms in the industry. D. number of firms in an industry.
If there are a large number of firms, each of which is so small that it takes the market price as given, then the market is characterized by:
A. informed buyers and sellers. B. perfect competition. C. no externalities. D. efficiency.