If a commercial bank has assets valued at $200 million and a net worth of $20 million, what is the value of the bank's liabilities?
a. There is not enough information to determine.
b. $20 million
c. $220 million
d. $180 million
e. $200 million
D
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Which of the following statements about implicit costs is true?
A. They measure the forgone opportunities of the firm's owners. B. They exceed explicit costs. C. They are always fixed. D. They do not enter into the calculation of economic profit.
Suppose a health insurance company notes that almost all of its customers are at a high risk of illness or injury. This is an example of:
A. public information. B. perfect information. C. a thick market. D. an adverse selection problem.
Suppose a cereal firm, Nabisco, merges with both a wheat firm and milling firm. This is an example of a
A) vertical merger. B) horizontal merger. C) parallel merger. D) diagonal merger.
Worker discrimination occurs when
A) workers refuse to perform risky tasks. B) employers pay different employees different wages based on race. C) workers refuse to work with persons of a different race. D) customers refuse to buy products produced by a racially diverse workforce.