The production possibilities curve represents the maximum feasible production combinations resulting from
A) the mix of current resources that utilizes all available inputs using current technology.
B) a fixed amount of demand by consumers.
C) the lack of trade-offs in production.
D) the lack of technology used in production.
A
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Which of the following is a legal barrier to entry?
i. public franchise ii. government license iii. patent A) iii only B) i and iii C) ii and iii D) i, ii, and iii E) i and ii
There is an exchange rate between
A. every pair of currencies. B. the world’s major currencies but not between the currencies of less-developed countries. C. currencies on a fixed exchange rate system but not for those on a floating rate system. D. the currencies of the European Union but not for the nations outside the European Union.
Dividends are the interest rates paid on stocks
Indicate whether the statement is true or false
Bill owns "Bill's Home of Blues" a store that specializes in selling CDs and DVDs of blues musicians of the 1960s and 1970s. Bill took out a loan from his bank to pay for his store and its initial inventory
Bill pays the bank $900 per week for his loan. The $900 bank payment A) is a short-run implicit cost. B) is a fixed cost. C) is a variable cost. D) is a long-run implicit cost.