The biggest difference between traditional sports gambling and daily fantasy is
A. daily fantasy bets are always legal.
B. traditional sports gambling bets are all settled are clearly observable from the outcome of an event, whereas daily fantasy is settled based on a points formula.
C. daily fantasy is always settled in a day, whereas traditional sports gambling bets take a whole season.
D. daily fantasy bets are much smaller bets.
Answer: B
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Suppose all firms in an industry are identical. In the long run, entry and exit guarantee that all firms will have zero
a. marginal cost. b. average cost. c. economic profit. d. accounting profit.
Along an LM curve at higher income levels the transactions demand for money is __________, so the interest rate must be __________ to equate the demand to the fixed supply of money
A) higher; higher B) higher; lower C) lower; higher D) lower; lower
Sellers of high-quality used goods are ________ likely to offer money-back guarantees because ________.
A. more; buyers will not ask for their money back B. less; buyers will be willing to purchase high-quality goods even without a guarantee C. more; they are wealthier and so can afford to give money back D. less; buyers consider guarantees to be a sign of an inferior good
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is CD. Molly's income is $75, the price of a DVD is $3 and the price of a CD is $5. At point D, she is buying ________ DVDs and ________ CDs.
A. 0; 15 B. 50; 30 C. 25; 15 D. 25; 0