Which of the following expressions is correct?
A) B = + BR
B) BR = + B
C) = B + BR
D) = -BR - B
A
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If the supply curve and the demand curve both shift to the left, then the new equilibrium:
A. price will be lower, but the direction of the change in quantity is uncertain. B. quantity will be higher, but the direction of the price change is uncertain. C. price will be higher, but the direction of the change in quantity is uncertain. D. quantity will be lower, but the direction of the price change is uncertain.
Joe's Taco Hut can purchase a delivery truck for $20,000 and Joe estimates it will generate a net income (after taxes, maintenance and operating costs) of $2,000 per year. He has no other opportunities. He should:
A. purchase the truck if the real interest rate is greater than 10%. B. not purchase the truck if the real interest rate is greater than 2%. C. purchase the truck only if the real interest rate is less than 2%. D. purchase the truck if the real interest rate is less than 10%.
Define expected value
What will be an ideal response?
The study of microeconomic theory focuses on
A. individual behavior in the economy B. Role of the banking system in the economy. C. Operation of the entire economy. D. Interaction of international trade and domestic production of goods and services.