In the elastic portion of the supply, small changes in prices lead to ________ changes in quantity, while in the inelastic portion of the supply curve, small changes in prices lead to ________ changes in quantity
A) small; small
B) large; large
C) small; large
D) large; small
D
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Which of the following is used by lenders to reduce the problems that arise from asymmetries of information?
A) patent contracts B) collateral C) decreased interest rates D) restrictive contents
If marginal product is negative, then
A) total product is rising. B) total product is falling. C) marginal cost is falling. D) average profit is rising.
For a firm to maximize profits, the marginal product of the last dollar spent on each resource must be equal.
Answer the following statement true (T) or false (F)
When yield curves are steeply upward sloping
A) long-term interest rates are above short-term interest rates. B) short-term interest rates are above long-term interest rates. C) short-term interest rates are about the same as long-term interest rates. D) medium-term interest rates are above both short-term and long-term interest rates.