Standardization of financial instruments has occurred as a result of:
A. the law of demand.
B. economies of scale.
C. the law of supply.
D. the rule of 70.
Answer: B
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All else being equal, a permanent decrease in the saving rate in a steady-state economy would cause
A) an increase in the capital—labor ratio and an increase in consumption per worker. B) an increase in the capital—labor ratio and a decrease in consumption per worker. C) a decrease in the capital—labor ratio and a decrease in consumption per worker. D) a decrease in the capital—labor ratio and an increase in consumption per worker.
When a government sets limits or puts any restrictions on the international flow of currency or payments, these measures are called:
a. forex regulation and restriction. b. capital controls. c. safeguard measures. d. black-market measures.
The following question relate to a community that is circular in nature with a one mile circumference. There are 81 people evenly distributed around the lake where the town is built. The travel cost is $10 per mile, a restaurant costs $100 to set up, and the cost per meal is $2. On your graph, vertically sum the two total cost curves and show what the optimal number of restaurants should be. Use the five points calculated to sum the total cost curves. Round off small residuals to the nearest whole number.
What will be an ideal response?
If government wishes to increase the quantity of higher education consumed, what can be done to accomplish this?
A) Charge tuition that is below the full costs of providing the educational services B) Operate public colleges C) Provide reduced tuition to students D) Any of the above alternatives would increase the consumption of education E) The government should not attempt to increase education, since it is a private good