Two of the three largest banks in the world are located in
A. the United States.
B. Japan.
C. Germany.
D. the United Kingdom.
D. the United Kingdom.
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What is the present value of $100 two years from now at an interest rate of 6%?
A) $6 B) $89 C) $94.34 D) $106
Suppose Jones sells a good for $100 at a yard sale. If the producer surplus from the sale is $75, Jones's cost of the good must have been:
a. $100 b. $175. c. $25 d. equal to the deadweight loss.
If Armenia can produce two rugs or 100 spy novels in an hour, and Turkey can produce one rug or 50 spy novels in an hour,
a. the terms of trade are 50 spy novels per rug, and Turkey should produce both rugs and spy novels b. the terms of trade are 50 spy novels per rug, and Turkey should produce only rugs c. the terms of trade are 50 spy novels per rug, and Armenia should produce only rugs d. there are no gains from trade e. the terms of trade are will exceed 50 spy novels per rug, and Armenia should produce both rugs and spy novels
The revealed preference approach refers to:
A. asking consumer to reveal their preferences using survey methods. B. estimating demand curves by using data on individual consumers. C. a statistical method used to estimate demand curves. D. a method of gathering information about consumer's preferences by observing their actual choices.