The three possible sources of government funding include
A) explicit fees, taxes, and borrowing.
B) international income, personal income taxes, and export taxes.
C) foreign aid, revenues, and implicit fees.
D) None of the above are correct.
Answer: A
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The intrinsic value of an option
A) is equal to the option premium. B) is the amount the option actually is worth if it is immediately exercised. C) is the amount the option is expected to be worth on its expiration date. D) is impossible to determine in the absence of information on the future prices of the underlying asset.
As price levels change, the purchasing power of income and wealth has varying effects on the level of consumption spending in an economy. This is called the _____
a. interest rate effect b. exchange rate effect c. wealth effect d. accelerator effect
Finding the occupation or business activity in which you are relatively more productive helps you earn more money than otherwise would be the case. This reflects the
A) principle of compound interest. B) law of diversification. C) law of large numbers. D) law of comparative advantage.
A firm can minimize cost by
A) picking the bundle of inputs where the lowest isocost line touches the isoquant. B) picking the bundle of inputs where the isoquant is tangent to the isocost line. C) picking the bundle of inputs where the last dollar spent on one input gives as much extra output as the last dollar spent on any other input. D) All of the above.