Firms that offer contracts through which individuals pay premiums to insure against some loss are known as:
A. thrifts
B. mutual fund companies
C. insurance companies
D. investment banks
Answer: C
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Which of the following curves are U-shaped?
i. average variable cost curve ii. average fixed cost curve iii. average total cost curve A) i and ii B) i and iii C) ii and iii D) i, ii, and iii E) only ii
Since the mid-1990s, the Argentine peso has NOT experienced:
a. a one-to-one peg with the U.S. dollar. b. a large devaluation and crisis. c. limited flexibility, after which it was kept in a narrow band with the dollar. d. a currency union.
Monopolistic competition is characterized by:
A. large markets. B. heterogeneous products. C. no free entry. D. employing labor from a perfectly competitive labor market.
De minimis risk
a. is the goal required by law under President Reagan’s Executive Order 12291 b. is applicable only to voluntary risk c. is a negligible level of risk such that reducing it further would not be cost justified d. is identical to a zero-risk standard