Financial instruments used primarily as stores of value would not include:
A. a home mortgage.
B. a U.S. Treasury bond.
C. a car insurance policy.
D. shares of General Motors stock.
Answer: C
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If the firm is incurring losses in the short run, then which of the following is true?
A. P < ATC B. P > ATC C. P > MC D. MC > ATC
Which of the following is true about private goods?
A. They are rival in consumption. B. They can have external benefits. C. They are consumed by a single person or household. D. All of these are true.
Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. The opportunity cost of a glove in Panama is:
A. 1/8 of a hat. B. 3/4 of a hat. C. 4/3 hats. D. 8 hats.
Say's law states that
A. desired expenditures will equal actual expenditures. B. demand is always less than supply. C. people produce only the goods they want. D. overproduction is never possible because of limited resources.