The firm's short-run supply curve shows the relationship between the price of a good and the:
A. quantity demanded of that good.
B. quantity supplied of that good.
C. willingness of consumers to purchase the good.
D. firm's capacity output.
Answer: B
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A debt instrument sold by a bank to its depositors that pays annual interest of a given amount and at maturity pays back the original purchase price is called
A) commercial paper. B) a certificate of deposit. C) a municipal bond. D) federal funds.
The direct trade of goods and services for other goods and services is called:
A. using a medium of exchange. B. barter. C. financial intermediation. D. diversification.
Exhibit 11-7 GDP data (billions of dollars) Personal consumption expenditures$5,207 Interest425 Corporate profits735 Government spending1,406 Depreciation830 Rental income146 Gross private domestic investment1,116 Compensation of employees4,426 Exports870 Imports965 Indirect business taxes553 Proprietors' income520 Personal taxes886 Social Security taxes432 Transfer payments376 In Exhibit 11-7, and using the expenditures approach, gross domestic product (GDP) is:
A. $6,807 billion. B. $7,082 billion. C. $7,634 billion. D. $7,637 billion.
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table. ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50A risk-averse manager will prefer project:
A. A. B. B. C. C. D. D.