When you use the word income, you mean a value that must be qualified by a length of time
a. True
b. False
Indicate whether the statement is true or false
True
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When consumers are willing to buy more than producers are willing to sell
A) there is excess demand for the product in the market. B) the market is in equilibrium. C) the demand curve will shift until the quantity supplied equals the quantity demanded. D) there is excess supply of the product in the market.
Independent workers face difficulties in arriving at choices for all of the following reasons, EXCEPT:
a. difference in investment responsibilities for their equipment. b. difference in attitudes toward risk. c. difference of opinion regarding a new strategy's probability of success. d. difference in their transaction costs.
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206 Suppose Smith and Jones begin by producing 100 calculators per hour; as Smith and Jones choose to efficiently produce fewer computers and more calculators, ________ should devote more time to calculators because his ________.
A. Jones; opportunity costs are lower B. Smith; absolute advantage is larger C. Jones; absolute advantage is smaller D. Smith; opportunity costs are lower
Considering interest-rate swaps, the swap rate is:
A. the rate being offered on U.S. Treasury securities of similar maturities. B. another name for the swap spread. C. a measure of overall risk in the economy. D. the benchmark rate plus a premium.