Commissions paid to a stock broker are an example of:
A. transaction costs.
B. liquidity.
C. risk transfer.
D. information asymmetry.
Answer: A
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The following table shows the relationship between output and number of workers in the short run. If the wage is $50/day, find marginal cost of production
Number of Workers Output 0 0 1 50 2 110 3 300 4 450 5 590 6 665 7 700 8 725 9 740 10 735
Which of the following will most likely occur during the recovery phase of a business cycle?
a. Real GDP rises, and unemployment falls. b. Real GDP declines, and inflation rises. c. Interest rates rise, and the number of business failures rise. d. Inflation rises, and employment falls.
Most Americans would voluntarily support defense without required taxation.
Answer the following statement true (T) or false (F)
The best example of a craft union would be the:
A. United Auto Workers B. United Steelworkers C. Teamsters D. International Brotherhood of Electrical Workers