The indifference curve between expected return and the standard deviation of return for a risk-averse investor
A) is downward-sloping.
B) is upward-sloping.
C) is horizontal.
D) is vertical.
E) can take any shape.
B
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The price elasticity of supply is a measure of the extent to which the quantity supplied of a good changes when the
A) cost of producing the product increases. B) quantity of the good demanded increases. C) supply increases. D) price changes. E) number of firms supplying the good changes.
Transaction costs are the costs incurred by individuals dealing with one another. ?
Answer the following statement true (T) or false (F)
A union that pursued a policy of restricting entry over time into the union would
A) see real wages hold constant over time at whatever premium they could get initially. B) also have to negotiate to be sure that all the members were able to find jobs. C) generate rising real wages for its membership over time as long as demand for union workers increased over time. D) fail to obtain benefits for their workers in excess of what the workers would get under open markets.
Suppose that Australia has fully employed all of its resources. This situation means that Australia ?
A) is experiencing zero unemployment.
B) has a positive Lucas Wedge.
C) has a negative Okun Ga
D) is operating at its potential GDP