It is difficult to practice arbitrage for untradable services or for goods which have a few knowledgeable traders
Indicate whether the statement is true or false
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Municipal bonds are issued
A) only by local governments. B) only by state governments. C) by both state and local governments. D) by the federal government, and by state and local governments.
All of the following are tangible goods except: a. a skateboard
b. a desk. c. a train locomotive. d. fairness.
An O. Henry short story tells about a young married couple, quite poor, facing Christmas without the means to buy each other gifts. So without her knowing, he sells his watch to buy a comb for her lovely hair and at the same time without him knowing, she cuts her lovely hair and sells it to buy a fob for his watch. To an economist, this touching story tells us
a. that without complete and open information, utility cannot be maximized b. total utility is not always greater than marginal utility c. the law of diminishing marginal utility does not apply in all cases d. the marginal utility of the comb for her was greater than the marginal utility of his watch and for him, the marginal utility of the fob was less than the marginal utility ofthe comb e. the marginal utility of the comb for him was greater than the marginal utility of his watch and for her, the marginal utility of her hair was less than the marginal utility ofthe fob
If countries where wages are far lower than those in the U.S. manufacture similar but vastly cheaper products, then:
a. U.S. consumers will buy those cheaper products b. U.S. producers will lose customers c. There will be a downward pressure on U.S. wages, and reduced employment d. All of the above statements are true.