When some resources used in production are only available in limited quantities, it is likely that the long-run supply curve in a competitive market is
a. downward sloping.
b. upward sloping.
c. horizontal.
d. vertical.
b
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Based on the table and information in the previous question, which of the following is TRUE?
A) George prefers to make $15,000 with certainty than make the investment. B) George prefers making the investment than to make $15,000 with certainty. C) George is indifferent between making $15,000 with certainty and making the investment. D) As the investment has risk George should not make it under any circumstances.
The reduction or covering of a foreign exchange risk is called
A) hedging. B) speculation. C) intervention. D) arbitrage.
As the nominal interest rate increases ________
A) it becomes more costly to hold money instead of bonds B) the quantity of money demanded falls C) the opportunity cost of holding money rises D) all of the above E) none of the above
A tax is sometimes used by government to correct the problems associated with
A) negative externalities. B) positive externalities. C) internal benefits. D) external benefits.