Supply-siders ignore the effects of tax cuts on
A. aggregate demand.
B. aggregate supply.
C. aggregate demand and aggregate supply.
D. none of these.
Answer: A
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If the marginal rate of technical substitution of labor for capital (MRTSLK) exceeds the relative price of labor in terms of capital (PL/PK), then
a. the firm's long-run average cost curve is rising. b. the firm is producing its output at the least possible cost, but the firm should reduce its output level to increase its profits. c. the firm has increased its output level beyond the point of diminishing marginal returns. d. the firm needs to use less capital and more labor to reach its expansion path.
By the 2000s, an important market change occurred when investment banks became significant participants in the secondary market for
A) corporate bonds. B) currency. C) mortgages. D) Treasury securities.
If the exchange rate changes from $1.52 = £1.00 to $1.65 = £1.00, then relative to each other,
A) both the dollar and the British pound have appreciated. B) both the dollar and the British pound have depreciated. C) the dollar has appreciated and the British pound has depreciated. D) the dollar has depreciated and the British pound has appreciated.
Which of the following is not a type of merger?
a. b and e. b. Diversified merger. c. Horizontal merger. d. Vertical merger. e. Conglomerate merger.