Money market mutual funds are funds pooled by
A. a group of people to buy short maturity credit instruments.
B. a group of people to buy stock market funds.
C. a group of people to buy U.S. Treasury bonds.
D. a group of people to buy shares of stocks.
Answer: A
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Refer to Table 2-8. What is Wilma's opportunity cost of making a statue?
A) 1/3 of a bench B) 6/7 of a statue C) 1/2 of a bench D) 3 benches
The law of diminishing returns, as it applies to labor, means that
A. the average product of labor increases at a decreasing rate. B. the total output eventually decreases. C. the marginal product of labor will eventually be a horizontal line at zero. D. the marginal product of labor eventually declines. E. the average product of labor starts to decline before the marginal product of labor.
A barrier to entry is
A. A law established by the government to protect new industries. B. An obstacle that prevents additional workers from entering an industry, such as a union. C. A commitment on the part of big business to allow smaller companies to compete. D. An obstacle that makes it difficult for new firms to enter a market.
Match each of the following jobs to its major area: forecasting, analysis, research, or data development. Explain your answers
(a) Economist at university, testing theories about the efficient allocation of resources in the foreign exchange market (b) Economist at Wall Street firm trying to predict the rate of inflation next year using past data (c) Economist at auto firm looking at demand for new automobiles (d) Economist at the International Trade Commission trying to determine whether foreign firms are dumping goods in the United States (e) Economist at the Commerce Department developing new methods for calculating price indexes (f) Economist consulting in Eastern Europe about how to set up free-market financial systems