In the graph above, a government imposed price of $35 represents a price _____ and there is a _____.
A. floor; surplus
B. floor; shortage
C. ceiling; surplus
D. ceiling; shortage
A. floor; surplus
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Use the following graph to answer the question below.
The quantity where marginal benefit equals marginal cost is
A. 290. B. 200. C. 130. D. 0.
The time value of the option can best be defined as
A. the fee earned for the potential benefits from buying the option. B. the commission earned by a broker. C. the service fee charged by the SEC for regulating the option market. D. the fee paid for the potential benefits from buying an option (excluding its intrinsic value).
Alan Greenspan, who preceded Janet Yellen and Ben Bernanke as Fed chairperson, was a proponent of
A. discretionary intervention. B. inflation targeting. C. fiscal policy. D. a rules-based approach to monetary policy.
Which of the following provides the best explanation of why low-income countries generally remain poor?
A. Their political environment and policies often discourage productive activity and reduce the potential gains from specialization and exchange. B. They are oppressed by developed nations that benefit from the cheap goods available from countries with low wage rates. C. They are poorly endowed with natural resources, which are essential for long-term rapid growth. D. When the average income level is low, workers have little incentive to earn higher incomes.