In the specific factors model, which of the following is treated as a specific factor?
A) land
B) labor
C) cloth
D) food
E) technology
A
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Subprime mortgages are mortgage loans:
A. made to borrowers with low credit scores. B. that have less than prime interest rates. C. made to borrowers with higher than average credit scores. D. made at lower than general market interest rates.
Managers can be seen as monitoring ____ within the firm
A) externalities. B) property rights C) stockholders. D) accounting profits.
Mary and Martha both can make cookies and cakes of the same quality, though Mary can make more of both cookies and cakes per hour than Martha. With the bake-sale quickly approaching, they want to make as many cookies and cakes as possible. In which of the following situations will the most cookies and cakes be made? a. Mary makes as many cookies and cakes as she can, while Martha does
nothing. b. Martha makes as many cookies and cakes as she can, while Mary does nothing. c. Mary and Martha both specialize in what they are better at making. d. There is not enough information.
Which of the following goods will have the most elastic demand at any time?
A. Cigarettes B. Electricity C. Gasoline D. Water E. Jewelry