Many times, technology is ________the equipment a company buys.
A. a substitute for
B. not present in
C. produced by
D. embodied in
Answer: D
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Suppose in Zurich £/$ = 0.5, while in New York SF/$ = 2.5, but in London £/SF = 0.1
(a) Is there any arbitrage profit that could be made with a triangular arbitrage action? Describe an example of how such a profit may be earned. (b) What would you guess about the relationship between the dollar rates and cross-rates after arbitrageurs notice this profit opportunity?
A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price. B) excess supply at the old equilibrium price. C) increase in quantity demanded. D) All of the above.
An example of a transfer payment is
A. a Social Security retirement benefit. B. the added value of stock from the time it was bought to the time it was sold. C. the salary paid to a member of the armed forces. D. an interest payment on a General Motors' bond.
An individual wheat farmer produces wheat in a perfectly competitive market. A decrease in the market demand for wheat will cause the farmer's marginal revenue to ________ and his profit-maximizing level of output to ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease