Figure 4.3 illustrates the demand for tacos. An increase in the demand for tacos is represented by the movement from
A) point a to point b. B) point c to point b. C) D2 to D1. D) D0 to D1.
D
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In the above figure, CBL is the cost of breaking the law. If it is illegal to buy and sell, then the quantity of the good bought and sold will be
A) 100. B) 200. C) 300. D) 400.
If Second National Bank has more rate-sensitive liabilities then rate-sensitive assets, it can reduce interest rate risk with a swap that requires Second National to
A) pay fixed rate while receiving floating rate. B) receive fixed rate while paying floating rate. C) both receive and pay fixed rate. D) both receive and pay floating rate.
An L-shaped isoquant
A) is impossible. B) would indicate that the firm could switch from one output to another costlessly. C) would indicate that the firm could not switch from one output to another. D) would indicate that capital and labor cannot be substituted for each other in production. E) would indicate that capital and labor are perfect substitutes in production.
The occurrence of inflation in a nation's economy hurts every citizen and, thus, creates a clear public desire to halt it from continuing
Indicate whether the statement is true or false