The borrowing rate is
A) the rate at which consumers and firms can borrow.
B) a nominal interest rate.
C) determined by monetary policy.
D) a risk premium.
A
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If demand for Rolls Royce automobiles rises in an area where incomes have increased, this tells us that a Rolls Royce is
A) a normal good. B) an inferior good. C) a complementary good. D) a substitute good.
The wages paid to the workers in a leather processing plant are: a. considered the total cost of the plant
b. considered a fixed cost of the plant. c. considered a variable cost of the plant. d. considered a marginal cost of the plant.
How might other firms in an oligopoly interpret your drop in price?
What will be an ideal response?
To minimize costs, a firm should use more capital and less labor if the product derived from the last dollar spent on labor is ________ the product derived from the last dollar spent on capital.
A. equal to B. greater than C. less than D. either greater than or less than