Eastern Europe is an information-__________ environment, which __________ the use of securities markets for large-firm financing
A) poor; encourages
B) poor; discourages
C) rich; encourages
D) rich; discourages
B
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There are two existing firms in the market for computer chips. Firm A knows how to reduce the production costs for the chip and is considering whether to adopt the innovation or not. Innovation incurs a fixed setup cost of C, while increasing the revenue. However, once the new technology is adopted, another firm, B, can adopt it with a smaller setup cost of C/2. If A innovates and B does not, A earns $20 in revenue while B earns $0. If A innovates and B does likewise, both firms earn $15 in revenue. If neither firm innovates, both earn $5. If C = 15, which is the perfect equilibrium of the game?
A. A innovates, B innovates. B. Neither firm innovates. C. A innovates, B does not. D. None of the answers is correct.
How has the distribution of income in the United States changed over the last 20 years?
(A) It has become more equal. (B) It has become less equal. (C) It has not changed appreciably. (D) It became more equal for about 10 years but has become less equal.
Disinflation took place in all of these periods except
A. the early 1950s. B. the mid-1970s. C. the early 1980s. D. the late 1980s.
Refer to Table 3-34. For which good(s) does Indonesia have a comparative advantage
a. bananas but not rice. b. rice but not bananas. c. nether rice nor bananas. d. rice and bananas.