When a new generation of computers, which are faster and more powerful than the previous generation, is introduced into the resource market:
a. many firms do not change their demand for capital.
b. many firms increase their demand for capital.
c. many firms decrease their demand for capital.
d. the quantity demanded of capital declines.
e. the quantity demanded of capital increases.
b
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The production possibilities frontier can show a manufacturer’s possible combinations of output resulting from the combination of two goods.
Answer the following statement true (T) or false (F)
When expectations cause people to discriminate against a certain group, it is referred to as:
A) preferential bias. B) implicit discrimination. C) statistical discrimination. D) taste-based discrimination.
In response to accounting scandals in 2002, the federal government passed legislation requiring that corporate directors have a certain level of expertise with financial information and mandating that chief executive officers personally certify the
accuracy of financial statements. What is the name of this legislation? A) the 24th amendment to the Constitution B) the Sarbanes-Oxley Act C) the Kennedy-Lott Act D) the Accountant Reliability Act
An innovation that blurred the distinction between brokerage firms and commercial banks was Merrill Lynch's development in 1977 of the
A) cash management account. B) money market mutual fund. C) individual retirement account. D) discount brokerage.