Which of the following is a characteristic of a perfectly competitive market?
a. a few large firms
b. firms producing specialized products in order to attract consumers
c. each individual firm having some control over the market price
d. a large number of small firms
d
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If the fixed costs are relatively large, a relatively good approximation to the correct transfer price is
a. average costs b. average fixed costs c. average variable costs d. the market price
Suppose Frank is considering purchasing an asset that will have a future value of $1000 in 7 years. The interest rate is 6% and the price of the asset is $600. Should Frank buy the asset? Why or why not?
What will be an ideal response?
The various money supply measures (M1 and M2) are used to distinguish the
A. Speed with which banks transfer funds between themselves. B. Speed with which banks transfer funds between savings and checking accounts. C. Liquidity and accessibility of assets. D. Rate at which money flows through the economy.
If the interest rate increases, there is a(n)
A) increase in the demand for money. B) decrease in the demand for money. C) increase in the quantity of money demanded. D) decrease in the quantity of money demanded.