Between 1980 and 2005, the Vanguard Index Fund earned 12.3 percent per year, while the average mutual fund investor earned
A. 1.9 percent.
B. 2.3 percent.
C. 5.1 percent.
D. 7.3 percent.
Answer: D
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Under the U.K. Bribery Act, bribery ________ virtually illegal per se and individuals convicted under this act can face up to ________ years in prison.
A) is; 20 B) is not; 10 C) is not; 20 D) is; 10
Refer to the game between James and Theodore depicted in Figure 12.1. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Left.
B. If James chooses Down, Theodore's best response is to choose Right.
C. If Theodore chooses Left, James's best response is to choose Up.
D. If Theodore chooses Right, James's best response is to choose Down.
Firms should shut down in the short run whenever price is less than the average total cost
a. True b. False Indicate whether the statement is true or false
Which of the following characteristics of the monopolistically competitive and the perfectly competitive market will cause the firm to earn zero profits in the long run?
A. no barriers to entry B. many buyers C. price taker D. homogeneous product