If your income rises and, as a result, you buy fewer packages of Ramen Noodles, then Ramen Noodles are a(n)
A. substitute.
B. complement.
C. inferior good.
D. normal good.
Answer: C
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If 1-year interest rates for the next three years are expected to be 1, 1, and 1 percent, and the 3-year term premium is 1 percent, than the 3-year bond rate will be
A) 1 percent. B) 2 percent. C) 3 percent. D) 4 percent.
Which of the following is a violation of the antitrust laws?
a. A firm discussing/fixing price with its competitors b. Making arrangements to stay out each other's markets c. Merging with the competitor to eliminate competition d. All of the above are violations
If gross investment is $2,593 billion and net investment is $873 billion, depreciation is:
A. $2,593 billion. B. $873 billion. C. $3,466 billion. D. $1,720 billion.
Refer to the above figure. The long-run average cost curve and the long-run marginal cost curves represent
A. the cost curves for a natural monopoly. B. a situation where a firm has control over the raw materials. C. a situation where a firm has a patent. D. the cost curves for a competitive firm.