The break-even quantity is
a. 10000
b. 5,555
c. 12,500
d. 5,000
c
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If inflation is completely anticipated
A) borrowers lose in the economy. B) firms lose because they incur menu costs. C) lenders lose in the economy. D) no one loses in the economy.
Which of the following statements is the MOST accurate about the Law of One Price on Scandinavian ferry lines?
A) Due to menu costs, the Law of One Price does not hold. B) To avoid arbitrage opportunities, the Law of One Price must hold. C) Transaction costs of exchanging currency causes the Law of One Price to fail. D) Transportation costs between ferry lines leads to a violation of the Law of One Price. E) The physical distance allowed the Law of One Price to hold.
Generally,
A) countries with the most independent central banks have the lowest inflation rates. B) countries with the least independent central banks have the lowest inflation rates. C) countries without central banks have the lowest inflation rates. D) the degree of independence of a country's central banks has little to do with its inflation rate.
For the tenant in the post-bellum South, the advantage of sharecropping compared with renting for cash was that _____
a. the sharecropper's output was less dependent on weather b. the sharecropper realized all of the gains from extra effort c. sharecropping required more capital than renting d. under sharecropping the landlord absorbed part of the risk of a bad harvest