Which of the following is NOT true for a perfectly competitive firm in the long run?
A) MR = MC
B) MC > LAC
C) Price = MC
D) SAC = LAC
B
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A U.S. automobile dealer has ordered a fleet of Japanese cars worth 10 million yen. The terms of payment is C.O.D. (cash on delivery). At the time the order was placed, the exchange rate was 100 yen per U.S. dollar
When the fleet arrived the exchange rate had become 200 yen per U.S. dollar. A) This change in the foreign exchange rate will hurt the U.S. importer. B) This change in the foreign exchange rate will hurt the Japanese exporter. C) This change in the foreign exchange rate will benefit the U.S. importer. D) This change in the foreign exchange rate will benefit the Japanese exporter.
Demand shows the ________relationship between __________and ________________.
a. direct; price; quantity b. inverse; price; quantity c. inverse; supply; quantity d. direct; supply; quantity
Whenever a consumer purchases good X but not good Y, then:
A. MRSXY ? PX/PY at the chosen bundle. B. MRSXY ? PX/PY at the chosen bundle. C. MRSXY = PX/PY at the chosen bundle. D. MRSXY = - PX/PY at the chosen bundle.
Which of the following securities has the greatest risk?
a. commercial paper b. corporate bonds c. corporate common stocks d. U.S. Treasury bills e. state and local government bonds