Refer to the scenario above. In equilibrium, Neil will give ________ to Claire if no other factors such as fairness are at work
A) 5 cookies
B) 1 cookie
C) 4 cookies
D) 2 cookies
B
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If the possibility of a default increases because corporations begin to suffer losses, then the default risk on corporate bonds will ________, and the bonds' returns will become ________ uncertain, meaning that the expected return on these bonds will
decrease, everything else held constant. A) increase; less B) increase; more C) decrease; less D) decrease; more
The minimum wage laws seek to
A) penalize employers that are not complying with labor laws. B) assure a minimum standard of payment for work. C) assure that all workers are paid the same wage rate. D) help teenagers find work.
With collateralized debt obligations (CDOs) buyers are purchasing _________ slices, and buyers of mortgage-backed securities (MBSs) purchase ___________ slices
A) unequal; equal B) equal; equal C) unequal; unequal D) equal; unequal
People will choose to specialize and trade if they can acquire the goods they want:
A. from a capitalistic system of exchange. B. from someone who is willing to trade with them. C. at a lower cost than it would cost them to make the goods themselves. D. at a higher cost than it would cost them to make the goods themselves.