Financial innovations occur because of financial institutions search for
A) profits.
B) fame.
C) stability.
D) recognition.
A
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The marginal dollar cost to a patient of visiting a doctor when the patient's bill will be paid entirely by insurance is
A) the same as if the patient had no insurance. B) the value of the care not received by some other patient who couldn't get an appointment. C) zero. D) zero only if the patient does not pay the insurance premiums.
A bountiful wheat harvest can be bad news for wheat farmers because the a. supply curve for an individual wheat farmer is usually perfectly elastic
b. supply curve for an individual wheat farmer is usually perfectly inelastic. c. demand for wheat is usually inelastic, meaning that factors that shift supply curve to the right decrease total revenues to sellers. d. demand for basic wheat is usually elastic, meaning that factors that shift supply to the right increase total revenues to sellers.
In the typical AC curve, the downward-sloping part is attributable to
a. spreading fixed costs over larger outputs and increasing returns to the variable inputs. b. declining administrative costs as output increases. c. falling fixed costs. d. rising total product.
In events leading to the housing bubble, the credit-rating agencies rated the assets associated with the housing market proper:
A. AAA ratings indicating low risk, and turned out to be too optimistic. B. AAA ratings indicating low risk, but turned out to be a right judgment. C. mid-level ratings indicating moderate risk, but were ignored. D. mid-level ratings indicating moderate risk, and turned out to be too pessimistic.