A price ceiling caused the gasoline shortage of 1973 in the United States
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is not cited as one of the factors that accounts for the large-scale production that exists in many sectors of the economy?
A) Economies of scale. B) Advertising and image differentiation. C) The minimum efficient scale of operation in many industries is quite high relative to market demand. D) Risk spreading.
In 1979, under the ERM, the member countries were pegged to the ECU, with a ______ band of fluctuation allowed.
A) 2.5% B) 2.25% C) 1% D) 10%
An investor sees the current twelve-month rate at 4% and expects the following future twelve-month rate for each of the subsequent years; 4.5%, 5.5% and 6.0%. If this investor views a four-year maturity at 5.65% as equal to four consecutive one-year securities, what is his/her risk premium?
Fill in the blank(s) with the appropriate word(s).
If milk and cookies are complements, then their cross price elasticity of demand will be
A. negative. B. greater than zero but less than 1. C. elastic. D. positive.