Which of the following is (are) the typical assumption(s) used in the study of mutually beneficial trades?
A) Each agent maximizes her utility.
B) Agents have convex-shaped indifference curves.
C) An agent's utility is not interdependent of the other agents' utilities.
D) All of the above.
D
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One benefit of a swap compared to futures and options is that they
A) promote liquidity. B) reduce the risk for both the buyer and seller. C) can be better tailored to meet the needs of market participants. D) can involve financial instruments and not just commodities.
Which of the following is true of markets? a. Markets help to acquire a specialized set of skills and use the pay to buy goods and services
b. Markets allow consumers to consume only those goods they can produce. c. Markets are based on reciprocity and require a mutual coincidence of wants between traders. d. A market is a cashless economic system in which services and goods are traded at negotiated rates.
Government expenditures as a share of the U.S. economy are
a. the largest in the world. b. the smallest in the world. c. smaller than most Western European countries but larger than a number of high-growth Asian economies. d. larger than Canada, France, and the United Kingdom but slightly smaller than Germany and Italy.
From 1998 to 2010, the cost of electricity produced with nuclear power has ________, and the cost of electricity produced with solar power has ________.
A. increased; increased B. increased; decreased C. decreased; increased D. decreased; decreased