Futures trading has traditionally been dominated by
A) the New York Stock Exchange.
B) the Chicago Board of Trade and the New York Mercantile Exchange.
C) the London Stock Exchange.
D) the Omaha Grain Exchange.
B
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Refer to Figure 2-9. What is the opportunity cost of producing 1 snow cone in Greenland?
A) 2/3 of a popsicle B) 5/6 of a popsicle C) 1 1/5 popsicles D) 200 popsicles
Even with a limited number of governments, everyone's government demand can be met
a. True b. False
Suppose the United States enters a recession, what type of unemployment would be most likely to rise as a result of the recession?
Select one: a. Frictional unemployment b. Sectoral unemployment c. Cyclical unemployment d. Seasonal Unemployment
It's not likely that a country will specialize completely in one good even if it has a lower opportunity cost because
A. Comparative advantage is not a workable concept in the world economy. B. Opportunity costs increase as more of a good is produced. C. The country would end up inside its production possibilities curve. D. The country would want to save some of the good for its own citizens.