Which of the following statements regarding futures is true?
A) trading futures contracts on agricultural and mineral commodities makes up a majority of all trading.
B) trading in financial futures involves more transactions than trading in commodity futures.
C) futures trading is allowed only for financial assets.
D) futures trading is allowed only for commodities.
B
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Which of the following cannot be an effective entry barrier?
A) a firm making very high economic profits B) a firm being granted a patent for its product C) a firm owning all of a vital resource needed to produce a good D) when huge economies of scale exist
Which of the following statements describes a supply curve?
a. A supply curve is a graphic illustration of the relationship between supply, shown on the vertical axis, and demand, shown on the horizontal axis. b. A supply curve is a graphic illustration of the relationship between price, shown on the horizontal axis, and quantity, shown on the vertical axis. c. A supply curve shows the same information as a supply schedule. d. A supply curve shows the same information as a demand schedule.
Residential construction (new houses and apartments) are included in which component of GDP?
A. Government purchases B. Retail spending C. Investment spending D. Net exports
Globalization is closely aligned with which of the following?
A) increased free enterprise B) more government control of markets C) less freedom of movement for people D) less freedom of movement for goods