The payment for a factor of production that is completely inelastic in supply is
A) opportunity cost.
B) economic rent.
C) discounting.
D) limited liability.
Answer: B
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The above figure illustrates Mary's production possibilities frontier. Which of the following movements show opportunity costs increasing?
A) point a to point b to point c B) point a to point f C) point f to point a D) point c to point f to point d
The amount paid for an option is the
A) strike price. B) premium. C) discount. D) yield.
Aggregate price information, such as recalculations of the CPI, is available to the public with ________ lags, causing difficulty for the ________ of the New Classical approach
A) long, Friedman but not Lucas version B) long, Lucas but not Friedman version C) long, Friedman and Lucas versions D) short, Friedman and Lucas versions E) short, Friedman but not Lucas version
Does the money demand curve have a positive slope or a negative slope? Why does it have this slope? Explain why an increase in the variable on the vertical axis of the money demand curve causes either an increase or a decrease in the variable on the
horizontal axis of the money demand curve. What will be an ideal response?