If some gain and some lose as the result of a change, and it can be demonstrated that the value of the gains exceeds the value of the losses, then the change is said to be
A. technically efficient.
B. potentially efficient.
C. inefficient.
D. unequivocally Pareto optimal.
Answer: B
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When a simple monopolist chooses to sell an additional unit of a good or service
a. marginal revenue will be equal to the going market price. b. marginal revenue will always be negative. c. it will only have to lower its price on the additional unit. d. it will have to lower its price on the additional unit and on all other units.
Unlimited wants need not be a problem if
A. resources are also unlimited. B. resources are flexible in what they can do. C. resources are basic energy resources like oil. D. resources are human resources such as skilled labor.
A 2013 article in the Financial Times predicted that the post-2008 Eurozone debt crisis:
A) is over and the benefits from the ordeal are valuable lessons about fiscal responsibility. B) is capable of solution but far from over. The article blames the private financial sector and denies that fiscal irresponsibility is the sole cause. C) is a bellwether of the decline and eventual collapse of the euro. D) teaches us that fiscal restraint is much more important than economic performance or unemployment issues.
The inter-bank loans that appear on banks' balance sheets represent what proportion of bank capital?
A. About one-third B. Less than one percent C. Almost three-fourths D. Nearly ten Less than 4 percent