Which good(s) does Denmark have an absolute advantage producing?
A. ham but not eggs.
B. both eggs and ham.
C. neither ham nor eggs.
D. eggs but not ham.
Answer: C. neither ham nor eggs.
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A bank has $200 million in assets and $150 million in liabilities. The banks net worth is _____________ million and its leverage ratio is __________________
A) $350; 0.56 to 1 B) $175; 1.14 to 1 C) $50; 4 to 1 D) $25; 8 to 1
Changes in real planned investment spending have
A) an inverse relationship to changes in the interest rate. B) no identifiable relationship to changes in the interest rate. C) a direct relationship to changes in the level of household savings. D) a direct relationship to changes in interest rates.
Which of the following correctly describes the relationship between the marginal cost and average variable cost curves?
a. MC is everywhere above AVC b. AVC is everywhere above MC c. MC crosses AVC at AVC's minimum point d. MC crosses AVC at MC's minimum point e. both AVC and MC first rise and then fall
Which of the following industries would be considered to have a capital intensive production process?
A. Creating a painting. B. Farming in a rich country C. Creating a hand-crafted wine. D. Serving food at a restaurant.