If an American traveling abroad can obtain 115 euros for $100 U.S. the current euro per $ exchange rate is:
A. 1euro/1.15$.
B. 1.15 euros/$.
C. 115euros/$.
D. 0.870 euros/$.
Answer: B
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Which of the following statements about the characteristics of debt and equity is FALSE?
A) They can both be long-term financial instruments. B) They can both be short-term financial instruments. C) They both involve a claim on the issuer's income. D) They both enable a corporation to raise funds.
We assume leisure is a normal good. This implies that
A) an increase in taxes decreases the demand for leisure. B) households maximize utility. C) preferences over consumption are well defined. D) an increase in the wage increases demand for leisure.
Private costs are
A) external costs borne by private firms. B) explicit costs rather than implicit costs. C) costs borne by private members of society rather than governmental bodies. D) costs borne solely by the individuals who incur them.
Table 21.2Output (units per day)0102030Total cost (dollars per day)$40$54$62$80Average fixed cost at 20 units of output in Table 21.2 is
A. $1.00. B. $4.00. C. $2.50. D. $2.00.