Which of the following was NOT a contributing factor to the turmoil in the global stock market in the last few years?
A) a decline in oil prices
B) the revaluation of the euro
C) emerging markets lowering interest rates
D) a rise in interest rates in the United States
B) the revaluation of the euro
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The law of diminishing marginal returns states that
A) as both labor and capital are increased, output increases at a decreasing rate. B) output increases at a decreasing rate as more capital is added. C) output decreases at a constant rate as more capital is added. D) as both labor and capital are increased, output does not change. E) output increases at a constant rate as more capital is added.
If your nominal income in 2014 was $50,000, and prices doubled between 2014 and 2017, to have the same real income, your nominal income in 2017 must be
A) $50,000. B) $75,000. C) $90,000. D) $100,000.
A perfectly competitive firm's ________ point is the lowest point on its AVC curve.
A. loss-maximizing B. shut down C. break-even D. profit-maximizing
Since 1960 U.S. banks have __________ the proportion of their total lending which is done overseas
A) reduced to near zero B) scaled back C) held nearly constant D) increased