Suppose you borrow $1,000 from your bank to pay for a bike. This is an example of
A) direct financing.
B) indirect financing.
C) moral hazard.
D) transaction costs.
B
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Just like a monopolist, a monopolistically competitive firm:
A. cannot sell additional units of output without lowering the price. B. is a price taker. C. sets the price according to marginal revenue and marginal cost; the demand curve doesn't matter. D. faces a perfectly elastic demand curve.
If Japan can produce each unit of steel using fewer resources than Canada uses,
a. Canada has an absolute advantage in steel production b. Japan has a comparative advantage in steel production c. Canada has a comparative advantage in steel production d. Canada may have an absolute advantage in producing steel e. Japan has an absolute advantage in steel production
How much would the interest rate be if there was no usury law?
If quantity demanded is greater at each price, we say that there has been
A. an increase in supply. B. an increase in demand. C. a decrease in supply. D. a decrease in demand.