The opportunity cost of holding money is measured by
A) the interest yield that could have been earned by holding some other asset.
B) the liquidity of interest-bearing assets.
C) the price of government bonds.
D) a dollar.
A
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When the snob effect exists, a change in price is likely to
A) change total revenue less than if there were no network externalities. B) change total revenue more than if there were no network externalities. C) change total revenue the same amount as if there were no network externalities. D) not change total revenue at all.
The various ways that vertical relationships can evade regulation include
a. tying the sale of an unregulated good to a customer's choice of a regulated good b. unbundling regulated and unregulated goods c. preventing the exclusion of rival unregulated goods d. insuring tax rates are uniform across jurisdictions
In effect, during the period immediately following World War II, the world was on a(n):
a. gold standard. b. flexible-exchange-rate standard. c. U.S. dollar standard. d. exchange-rate standard dictated by Germany e. pegged-exchange rate standard.
Suppose a market is initially competitive with many firms selling an identical product. Over time, however, suppose the merging of firms results in the market being served by only three or four firms selling this same product. As a result, we would expect
a. an increase in market output and an increase in the price of the product. b. an increase in market output and an decrease in the price of the product. c. a decrease in market output and an increase in the price of the product. d. a decrease in market output and a decrease in the price of the product.