Which of the following was designed to head off panics among market participants and forestall crashes like the ones in October 1929 and October 1987?
A. Program trading
B. Circuit breakers
C. Derivatives
D. Volatility index
Answer: B
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The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the number of DVD produced is cut to 2 a week, then the ________
A) minimum supply-price of the second DVD is $18 B) price is $18 a DVD C) opportunity cost of the second DVD is $22 D) value of the second DVD is $20
If the GDP deflator in the United States is 114, and the GDP deflator in Ukraine is 142, which of the following exchange rates would the theory of purchasing power parity predict in the long run? (The Ukrainian currency is the hryvnia.)
A) 0.80 hryvnias per dollar B) 1.25 hryvnias per dollar C) 2.80 hryvnias per dollar D) 28 hryvnias per dollar
A perfectly competitive firm has a random demand with a 20 percent chance of being $18 and an 80 percent chance of being $26. What is the firm's expected marginal revenue?
A) $24.40 B) $26.00 C) $18.50 D) $25.60
A point inside a society's production possibilities curve represents
A) an unattainable combination of outputs. B) an output combination that satisfies the needs of the population. C) an underutilization of productive resources. D) a technically superior output combination.