The midpoint formula for elasticity of demand solves the problem of:
A. whether elasticity of demand is really positive or negative.
B. whether to use quantity or price in the numerator.
C. which price or quantity to use as the initial value of the variable.
D. whether to use quantity demanded or supplied.
Answer: C
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Which of the following characteristics is NOT likely to increase the interest on a loan?
A) a high-risk proposal B) a non-creditworthy borrower C) a short-term loan D) a larger dollar loan
Globalization does not mean:
A) the homogenizing of markets. B) when one product or one brand is sold in many different international markets. C) the increase in trade among nations. D) the establishment of manufacturing plants in more than one nation. E) the purchase of supplies from foreign firms.
The market where banks make loans to borrowers is called the primary loan market, while the market in which these loans are bought and sold by ______________ institutions is the secondary loan market.
a. retail b. financial c. debtor d. secondary
Which of the following is a FALSE statement about education in the high-growth Asian economies?
A) An emphasis on state funding of advanced degree programs, such as engineering and computer science, increased manufacturing production significantly. B) Literacy rates rose dramatically in the high-growth Asian economies and laid a foundation for a skilled labor force. C) As the average educational level rose, workers could take on more technological, sophisticated production, pushing new investment into product lines. D) Spending was focused on the primary and secondary level, where it has the greatest social impact.