Suppose the nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots, it can make 40 per day. If Arcadia produces only surfboards, it can make 60 per day
What is the opportunity cost of 1 teapot in Arcadia?
A) 2/3 of a surfboard B) 1.5 surfboards C) 40 surfboards D) 60 surfboards
B
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All of the following are differences between hedge funds and mutual funds EXCEPT
A) hedge funds are largely unregulated. B) hedge funds consist of a relatively number of wealthy investors. C) hedge funds make risky investments that mutual funds cannot make. D) hedge funds use money collected from savers to make investments.
During the 2000-2009 decade,
a. the economic freedom rating of the United States fell, but the growth rate of real GDP was more rapid than in recent decades. b. the economic freedom rating of the United States increased and the growth of real GDP was more rapid than that of recent decades. c. the economic freedom rating of the United States fell and the growth of real GDP was less rapid than that of recent decades. d. the economic freedom rating of the United States increased but the growth of real GDP was less rapid than that of recent decades.
A single commercial bank must meet a 25% reserve requirement. If it initially has no excess reserves and then $2,000 in cash is deposited in the bank, it can increase its loans by a maximum of
A. $1,500. B. $1,750. C. $1,250. D. $2,000.
All of the following statements are true about entrepreneurship except:
A. The entrepreneur assembles needed resources. B. The entrepreneur risks her or his own money. C. The entrepreneur reaps the profits or suffers the losses of the enterprise he or she creates. D. The term entrepreneur is synonymous with the term inventor.