The interest rates on outstanding credit card balances are generally high because
A) the default rate on credit card loans is high and there are no assets backing these loans.
B) the banks "price gouge" consumers in this market.
C) there is little competition in this lending market.
D) the administrative costs associated with these loans are low.
A) the default rate on credit card loans is high and there are no assets backing these loans.
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Samara's income is $30 a month and she spends all of it on music downloads and gasoline. The price of a music download is $1.50 and the price of a gallon of gasoline is $3
At Samara's best affordable point, her marginal rate of substitution is ________ per video tape. A) 0.5 of a download B) 1 download C) 1.5 downloads D) 2 downloads
If the labor market is competitive, a monopoly output market will result in
A) a lower wage than that of a competitive output market. B) a higher wage than that of a competitive output market. C) less labor hired than in a competitive output market. D) more labor hired than in a competitive output market.
(Consider This) Elastic demand is analogous to a __________ and inelastic demand to a _________
A. normal wrench; socket wrench B. tight rubber band; loose rubber band C. Ace bandage; firm rubber tie-down D. one-foot ruler; tape measure
Job and pay disparity between men and women is explained fully by the job interruption that accompanies childbirth
Indicate whether the statement is true or false