In 2007, which U.S. firm showed the first indication of significant problems in the financial sector?
a. AIG
b. Bear Stearns
c. J.P. Morgan Chase
d. Lehman Brothers
b
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Which of the following is false? a. The price elasticity of supply measures the sensitivity of the quantity supplied to the changes in the price of the good. b. The price elasticity of supply is defined at the percentage change in the quantity supplied divided by the percentage change in price. c. Goods with a supply elasticity that is greater than 1 are called relatively elastic in supply
d. When supply is inelastic, a 1 percent change in the price of a good will induce a more than 1 percent change in the quantity supplied.
The process of using resources to produce ________ is known as investment.
A. profit B. money C. new capital D. inputs
A family that earns $20,000 a year pays $200 a year in city wage taxes. A family that earns $40,000 a year pays $1,600 a year in city wage taxes. The city wage tax is
A. a progressive tax. B. a regressive tax. C. a proportional tax. D. a benefits-received tax.
A person who is willing to take a bet with an expected value of one is called risk-neutral.
Answer the following statement true (T) or false (F)