Pareto optimality and Pareto superiority _____
a. concern only monetary gains and losses
b. compare utility gains with utility losses
c. do not require interpersonal utility comparisons
d. are equivalent to the concept of economic efficiency
c
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If you knew that an investment was going to pay you $215,892.50 in 10 years, and you knew that the annual interest rate over that time would be 8 percent, you could calculate the present value to be:
A. $100,000. B. $150,000. C. $125,000. D. $80,000.
Which of the following best explains a government's motive for reducing the value of its currency?
A. Increase the trade balance and prevent the price level from falling further. B. Decrease the trade balance and prevent the price level from falling further. C. Increase the trade balance and prevent the price level from rising further. D. Decrease the trade balance and prevent the price level from rising further.
Why are the actions of firms interdependent in an oligopoly market but not in a monopolistically competitive market?
Which of the following is a source of market risk?
a. Holding stocks in many companies carries the risk of a reduced average return. b. Real GDP varies over time and sales and profits move with real GDP. c. When a paper producer has declining sales, it is likely that so will other paper producers. d. If stockholders become aggravated with the way a CEO runs a company, the price of that company's stock might fall in the stock market.