In order for a firm to receive monopoly profits, there must be
A) homogeneous products.
B) barriers to market entry.
C) mutual interdependence among firms.
D) free entry and exit to the market.
Answer: B
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Covered interest arbitrage involves both
A) the purchase of a foreign asset and a forward contract in the market for foreign exchange. B) the purchase of a domestic asset and a spot contract in the market for foreign exchange. C) the sale of a foreign asset and the purchase of a forward contract in the market for foreign exchange. D) the sale of domestic stocks and the purchase of foreign bonds. E) None of the above.
The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.
The slope of the PPC between points Y and Z is determined by ________ opportunity cost.
A. Janna and Drew's B. Drew's C. Janna's D. Kari's
Normative economics deals with ____ and positive economics deals with ____.
A. what should be; what is B. fiction; fact C. microeconomics; macroeconomics D. negative aspects; positive aspects
A graph showing the values of an economic variable for different groups in a population at a point in time is called a
A) cross-section graph. B) time-series graph. C) scatter diagram. D) Venn diagram. E) None of the above answers is correct.