Refer to Figure 12-8. Suppose the firm produces 4,000 units. What does the shaded area labeled B represent?
A) the firm's economic loss B) average variable cost
C) total fixed cost D) total variable cost
D
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Suppose that you lend $1,000 to a friend and he or she pays you back one year later. What is the opportunity cost of lending the money?
A) the nominal interest rate that would have been earned on the money B) There is no cost. C) the implicit cost of the money D) the real interest rate that would have been earned on the money
Default risk
A) is the probability that a borrower will not pay in full the promised coupon or principal. B) exists only for the bonds of small corporations. C) is also known as market risk. D) is zero for bonds issued by cities and states.
Which of the following increases the possibility of depreciation of the domestic currency in the foreign exchange market?
a. An increase in the demand for domestic goods in the foreign market b. A decrease in total imports made by the domestic country c. A decrease in the interest rates in the domestic country d. An increase in the short-term foreign investments e. An increase in domestic production of import substitutes
In what industrial sector are children most likely to be working?
What will be an ideal response?