Which of the following referred to derivatives as "financial weapons of mass destruction?"
A) Ben Bernanke
B) Barack Obama
C) Warren Buffett
D) Michael Lewis
C
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On a diagram of the consumption function and the 45-degree line, saving at each level of disposable income is the vertical distance
A) from the horizontal axis to the intersection point of the consumption line and the 45-degree line. B) from the horizontal axis to the 45-degree line. C) between the consumption and the 45-degree lines. D) from the horizontal axis to where the consumption line intersects the vertical axis.
Economics is sometimes called the study of choice. This means we all make choices because of ______.
a. income b. opportunities c. scarcity d. surplus
Refer to the table above. Using the four-firm concentration ratio, the upholstered furniture industry is best categorized as:IndustryNumber of sellers% of shipments accounted for by the 4 largest companiesTires1595Upholstered furniture2,00015
A. monopolistically competitive. B. a pure monopoly. C. perfectly competitive. D. oligopolistic.
What is the price elasticity of demand? How is the price elasticity of demand calculated?
What will be an ideal response?