Which of the following can be described as direct finance?
A) You take out a mortgage from your local bank.
B) You borrow $2500 from a friend.
C) You buy shares of common stock in the secondary market.
D) You buy shares in a mutual fund.
B
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Economists like Hernando de Soto feel that a ___________ is the key to economic development.
A. strong national defense B. strong currency C. strong titling system D. stable currency
According to the text, technological advances such as e-mail and VoIP have increased the appeal of international trade because it is now easy and inexpensive to manage customer needs and communicate with customers frequently.
a. true b. false
The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000.
When the firm uses 40 units of labor, what is average total cost at this output?
A. $170 B. $140 C. $70 D. $40 E. none of the above
If a country's production possibilities curve gets more bowed out over time, it is an indication that
A. the quantity of labor and capital have increased. B. technological change has taken place. C. society is learning to use its resources more efficiently. D. resources have become more highly specialized.