The long run for the industry is defined as a period of time long enough for
A. any new firm that desires to enter the industry.
B. any old firm that desires to leave the industry.
C. all aspects of production to vary and there are no fixed costs.
D. All of the responses are correct.
Answer: D
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A country experiencing a debt or currency crisis would contact the World Bank
Indicate whether the statement is true or false
Derivative instruments are
A) assets such as bonds or common stock that derive their value from the value of the companies which issue them. B) assets whose rates of returns must be derived from information published in financial tables. C) assets which derive their value from underlying assets. D) computers which display real-time financial information.
Government policy can potentially raise economic well-being
a. in all markets for goods and services. b. in economic models, but not in reality. c. when a good does not have a price attached to it. d. never.
The argument that money should be given instead of in-kind help to welfare recipients is based on the idea that
A. welfare recipients cannot be trusted to use the in-kind help properly. B. in-kind help is not wanted. C. money allows more options and maximizes individual freedom. D. in-kind assistance does not go through the market system.