A bond is
A) a debt instrument, that is, the issuer has taken out a loan.
B) an equity instrument, that is, the buyer has purchased ownership in the issuer's firm.
C) the same thing as a stock.
D) a short-term loan from the government.
Ans: A) a debt instrument, that is, the issuer has taken out a loan.
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The invocation of beggar-thy-neighbor arguments with respect to industrial policies
A) strengthens the argument for subsidies. B) makes sense if the international Keynesian multipliers exceed unity. C) applies only to rich countries most of whose trade partners are very poor countries. D) weakens the argument for subsidies. E) does not apply to rich countries who can influence relative world prices.
The exchange efficiency condition holds:
A. if every pair of individuals has inverse marginal rates of substitution for every pair of goods. B. if every pair of individuals shares the same marginal rate of substitution for every pair of goods. C. if every pair of individuals consumes the same quantities of every pair of goods. D. if every pair of individuals have the same level of utility.
Refer to the above table. Which product would be an inferior good?
A. Product W
B. Product X
C. Product Y
D. Product Z
A ________ is a firm that faces a given market price and whose actions have no effect on that market price
a. monopoly b. dominant firm c. price taker d. price maker