Which of the following nations DOES use the euro and participates in the Treaty on European Union?
A) Sweden
B) Denmark
C) Portugal
D) The United Kingdom
E) Norway
C
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Refer to Figure 12-17. The graphs depicts a short-run equilibrium. How will this differ from the long-run equilibrium? (Assume this is a constant-cost industry.)
A) The price will be higher in the long run than in the short run. B) The market supply curve will be further to the left in the long run than in the short run. C) The firm's profit will be lower in the long run than in the short run. D) Fewer firms will be in the market in the long run than in the short run.
If asset A is a risky asset yielding 10 percent and asset B is a riskless asset with the same maturity with a yield of 8 percent, investors would
A) prefer asset A. B) prefer asset B. C) be indifferent between the two assets. D) None of the above.
The marginal cost of pollution abatement is graphically illustrated by
A. a vertical curve. B. a downward sloping curve. C. a horizontal curve. D. an upward sloping curve.
A successful market economy requires
A) a government-controlled banking system and government price controls. B) well-defined property rights and an independent court system to adjudicate disputes based on the law. C) generous unemployment benefits and paid medical leave for everyone in the labor force. D) an equitable distribution of income and limits on immigration.