Salaries of NFL quarterbacks, like Tom Brady, are
A. the result of perfectly competitive markets.
B. related to the additional revenues team owners expect to enjoy as a result of having them on the team roster.
C. too high.
D. All of the above are correct.
Answer: B
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Financial intermediaries reduce individual risk because they pool the funds of savers
Indicate whether the statement is true or false
Compare and contrast the predictions of the Heckscher-Ohlin and classical models about likely trading partners of various countries with the predictions of the Linder hypothesis
What will be an ideal response?
The economy is in long-run equilibrium when ________ and ________
A) real GDP equals potential GDP; the unemployment rate equals zero B) the output gap equals zero; the inflation rate equals the target inflation rate and the expected inflation rate C) the output gap is at its maximum; the inflation rate equals the target inflation rate and the expected inflation rate D) the unemployment rate equals the natural rate of unemployment; the inflation rate equals zero
Which of the following statements about gold jewelry and round-trip bus tickets to Bismarck, North Dakota, is most likely to be correct?
a. They are both inferior goods. b. Their demand curves probably are quite similar. c. They are complements. d. They are substitutes. e. They are unrelated.