In output markets, the elasticity of supply tends to be
A. zero.
B. positive.
C. negative.
D. decreasing at an increasing rate.
Answer: B
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Anything of value owned by a person or a firm is
A) an asset. B) owner's yield. C) a liability. D) wealth.
Generally with bond ratings, the lower the rating, the ________ the interest rate an investor will receive and the ________ the the risk that the issuer of the bond will default
A) lower; lower B) higher; lower C) higher; higher D) lower; higher
The price of on-campus parking from 8:00 AM to 5:00 PM, Monday through Friday, is $3.00. From 5:00 PM to 10:00 PM, Monday through Friday, the price is $1.00. At all other times parking is free. This is an example of
A) bundling. B) second-degree price discrimination. C) a two-part tariff. D) tying. E) none of the above
The market system fails to provide the efficient output of public goods because: a. people place no value on public goods
b. private firms cannot restrict the benefits from those goods to consumers who are willing to pay for them. c. public enterprises can produce those goods at lower cost than private firms. d. public goods create widespread spillover costs.