The following table shows Alex's estimated annual benefits of holding different amounts of money.Average moneyholdings($)Total benefit($)700508005990066100071110074How much money will Alex hold if the nominal interest rate is 8 percent? (Assume she wants her money holdings to be in multiples of $100.)
A. $900
B. $800
C. $1,000
D. $700
Answer: B
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Product differentiation involves making a product that is
A) slightly different from the products of competing firms. B) no different than the products of competing firms. C) very different from the products of competing firms. D) completely different from the products of competing firms. E) cheaper than the products of competing firms.
Which of the following is a Nobel Prize winning economist who argued that theories should be tested based on the validity of their predictions?
A) Milton Friedman. B) Ben Bernanke. C) Alan Greenspan. D) Larry Summers.
Answer the following statements true (T) or false (F)
1. Firms in monopolistic competition sell a similar but differentiated product. 2. 3. 4. 5.
An optimum currency area functions best when labor is immobile from country to country
a. True b. False