The replacement ratio is defined as
a) The cost of replacing a worker
b) The cost of employing a new worker relative to the value of output they could produce
c) The cost of replacing capital relative to the book value of existing capital
d) Unemployment benefit as a share of previous earnings
e) None of the above
d) Unemployment benefit as a share of previous earnings
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Which of the following markets is an example of an oligopoly?
A) The market for premium apparels B) The market for books C) The market for video games D) The market for wheat
A gain can be made by the holder of a call option when the current exchange rate
A) exceeds the exercise price. B) exceeds the forward price. C) is less than the futures price. D) falls to zero.
Consider a particular market-clearing price and quantity under a perfectly competitive equilibrium. As the demand curve at this point becomes more inelastic, the consumer surplus in the market tends to:
A) increase. B) decrease. C) remain the same. D) We do not have enough information to answer this question.
Andrea Schwatz has argued that the Great Depression was caused by
a. the fall in the stock of money. b. the fall in consumer durable spending. c. the fall in investment spending. d. the increase in nominal wages.