Based on the idea of opportunity cost, which of the following students would be most likely to drop out of college before completing their degree?
a. a senior mathematics major with a solid B average
b. a junior physical therapy student who has just read about the fantastic job offers available to students with degrees in her area
c. a star college football player in his junior year that just received a $5 million offer from a professional team
d. a junior economics major who wants to attend graduate school
C
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Disintermediation refers to the
A) failure of financial intermediaries due to moral hazard problems. B) failure of financial intermediaries due to adverse selection problems. C) movement of savers and borrowers from banks to financial markets. D) removal of government regulations of financial intermediaries.
If an event is certain to occur, it has a probability (pr) of
A) 0. B) 0 < pr < 1. C) 1. D) Not enough information to determine.
According to New Trade Theory,
a) international trade is not a zero-sum game, but a win-win proposition b) a nation can create new comparative advantages by subsidizing key industries c) protectionism is justified in order to allow “infant industries” to mature d) competitiveness is an inappropriate model for countries to follow in foreign trade e) trade wars benefit society by raising the level of competitiveness
Refer to the graph below for a monopolist in short-run equilibrium. This monopolist has total cost equal to area:
A. CADF
B. 0ADQ
C. ADFC
D. 0CFQ