Financial intermediaries bring suppliers and demanders together in the market for
a. checks
b. loanable funds
c. saving
d. physical capital
e. income
B
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An Internet start-up company consists of three people with an idea that they wish to use in pursuing a patent for a product. What type of capital does this company have and what is its value?
What will be an ideal response?
Unregulated markets will tend to
A. rapidly deplete any natural resource. B. naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. C. naturally conserve a depletable resource by pushing up its price at a constant rate every year. D. deplete a resource unless new supplies are found.
Consider an output beyond the minimum point of a firm’s short run average total cost curve. At this level of output the firm can use its _______ input at a lower average cost but only by using its _______ input at a higher average cost.
A) fixed capital; variable labor B) variable labor; fixed capital C) variable capital; fixed labor D) fixed labor; variable capital
When the government sets a price floor which is below the equilibrium price
A) a surplus will develop. B) a shortage will develop. C) the equilibrium price will be maintained. D) a price ceiling will follow.