In a market economy, every real transaction has a corresponding:
A. financial liability.
B. real asset.
C. financial transaction.
D. real liability.
Answer: C
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In the above figure, for a single-price monopoly the deadweight loss is equal to the area
A) abP1. B) acP2. C) bce. D) bed. E) P1beP3.
If you want to know the present value of $4,000 in two years and the annual interest rate is 5%, what formula can you use?
A) Present value = $4,000 / (0.05 ) × 2. B) Present value = $4,000 / (1 + 0.05 )2. C) Present value = $4,000 × (1 + 0.05 )2. D) Present value = $4,000 × (1 + 0.05 )/ 2.
The long-run average total cost curve of a firm envelops many short-run average total cost curves
a. True b. False Indicate whether the statement is true or false
What is one way that the trade deficit of the United States is financed?
A. By U.S. buying real assets abroad B. By selling real assets of the U.S. to foreign buyers C. By borrowing from U.S. citizens D. By lending from U.S. banks