That an increasing number of jobs that do not pay enough to subsist on is ____ theory of poverty.
A. a conservative
B. a liberal
C. both a liberal and a conservative
D. neither a liberal nor a conservative
B. a liberal
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What do we assume about households and firms?
A) They act irrationally. B) They do what the government tells them to do. C) They look after each other. D) They optimize.
Consider the following statements when answering this question;
I. The variance of the returns of an investor's portfolio can be reduced by selling assets from the portfolio, and investing the proceeds in other assets where returns are positively correlated with the portfolio's remaining assets. II. The value of complete information is always positive. A) I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) I and II are false.
A price discriminating monopolist having identical costs in two separated markets should charge a higher price in that market:
a. which has a higher demand. b. which has a more elastic demand. c. which has a less elastic demand. d. which has a higher marginal revenue.
In a monopolistically competitive market like retail trade, firms can easily enter and exit the market
a. True b. False Indicate whether the statement is true or false