When markets open up to international trade, we know that consumer surplus will rise
a. True
b. False
Indicate whether the statement is true or false
False
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A vertical merger, like the merger of Seagate and Dell, would be attractive
a. only to Dell because it then avoids paying monopoly prices to Seagate. b. only to Seagate because it can then obtain two monopoly rents. c. to both Seagate and Dell but not to consumers who would find no difference in their welfare. d. to Seagate, Dell and consumers, all of whom would stand to benefit in some way.
From a normative perspective, the role of the budgeting process is to allocate scarce resources to their most highly valued uses
a. True b. False
If every person is willing to accept money in payment, rather than goods and services, money serves as a:
a. medium of exchange. b. unit of account. c. store of value. d. coincident exchange.
A share of Microsoft stock would best be described as which of the following?
A. A debt instrument B. An underlying instrument C. A means of payment D. A derivative instrument