If a country takes advantage of the comparative advantage of some resources over others, its production possibility curve is likely to be:
A. bowed outward.
B. straight.
C. flat.
D. bowed inward.
Answer: A
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An indication that Insurance companies anticipate adverse selection is
a. they require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment
Recall the Application about the decrease in taxes on cigarettes in several Canadian provinces in 1994 to answer the following question(s). According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the price of cigarettes in these provinces decreased by roughly ________ percent.
A. 8 B. 17 C. 50 D. 88
Which of the following statements about the characteristics of debt and equities is TRUE?
A) They can both be long-term financial instruments. B) Bond holders are residual claimants. C) The income from bonds is typically more variable than that from equities. D) Bonds pay dividends.
Which of the following is a characteristic of an oligopolistic industry?
a. interdependence of a firm's price and output decisions b. low barriers to entry c. small output of individual firms relative to the total market d. a large number of competing firms