Information and opportunity costs affected patterns of emigration to the U.S
Indicate whether the statement is true or false
False
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The U.S. dollar is called
A) frail money because wear and tear ruins paper bills. B) convertible money because the government stands ready to convert it into gold or silver. C) fiat money because the law decrees it is money. D) faith money. E) commodity money, because it is convertible into gold.
The higher the nominal interest rate, the
A) greater the opportunity cost of holding money. B) lower the quantity of money demanded. C) more the demand for money curve shifts leftward. D) Both answers A and B are correct.
When two firms collude to maximize profit the total quantity produced by both firms taken together is determined at the quantity where ________
A) excess capacity is minimized B) industry marginal cost equals industry marginal revenue C) the price equals the industry's marginal cost D) excess capacity is as large as possible zero
The implicit cost of ownership:
A. is a cognitive bias if it goes ignored. B. leads people to value things more once they possess them. C. is a nonmonetary opportunity cost that is often overlooked. D. All of these are true.