Which of the following terms is used to describe a situation in which the price of an asset rises above what appears to be its fundamental value?
a. "random walk"
b. "random bubble"
c. "speculative bubble"
d. "speculative hedge"
c
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Cash payments to a steel mill for steel used in production would be an example of:
A. entrepreneurial costs. B. fixed costs. C. explicit costs. D. implicit costs.
Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodity If a new production technique is developed that enables a firm to produce 20 units of output with 3 units of land, 3 of labor, 1 of capital, and 2 of entrepreneurial ability, this technique would
What will be an ideal response?
Increases in real GDP would overstate the increase in the well-being of a country over time if, over that time period, the
A) average hours worked per week increased. B) amount of pollution decreased. C) price level increased. D) crime rate decreased.
An increase in the level of real GDP in the economy leads to
A) a leftward shift in the demand for money curve. B) a rightward shift in the demand for money curve. C) a leftward movement along the demand for money curve. D) a rightward movement along the demand for money curve.