Ceteris paribus, for a farmer, corn and wheat are
A. Complements in production; by-products.
B. Substitutes in production.
C. Unrelated in a farmer's decision.
D. None of the choices are correct.
Answer: B
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Refer to the payoff matrix below. If Best Lights and Bright Lights both know that they will play the game a finite number of times, but neither firm knows when the last period will be, there ________ an opportunity to earn higher profit because the managers ________ worry about punishment for cheating.
A) is; will not
B) is; will
C) is not; will
D) is not; will not
Suppose a bank is operating with a leverage ratio of 20 . What is the maximum decrease in the market value of assets before the bank becomes insolvent?
If purchasing-power parity holds, a bushel of rice costs $10 in the U.S., and the nominal exchange rate is 25 Thai baht per dollar, what is the price of rice in Thailand?
a. 400 baht b. 250 bhat c. 100 bhat d. None of the above is correct.