If revenues exceed ________, profit is ________.
A. variable cost; negative
B. fixed cost; positive
C. total cost; negative
D. total cost; positive
Answer: D
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The consumer price index measures the cost of:
A. a fixed basket of goods and services. B. all goods and services purchased by consumers. C. goods and services required to live above the poverty level. D. a changing basket of goods and services.
A newly-issued eighteen-year Treasury security can be stripped into __________ separate zero coupon securities
A) two B) eighteen C) thirty-seven D) seventy-three
Suppose that labor is mobile between sectors but that capital and land are specific. Then labor will tend to benefit from trade when:
a. it spends a large amount of its income on the imported good. b. it spends a large amount of its income on the exported good. c. wages do not change much in percentage terms. d. all of these occur.
?Wind ChimesSun DialsDeena912Artie68 Table 3.4Consider two individuals, Artie and Deena, who produce wind chimes and sun dials. Artie's and Deena's weekly productivity are shown in Table 3.4. Which of the following is true?
A. Deena has an absolute advantage in producing both goods, and a comparative advantage in producing wind chimes. B. Deena has an absolute advantage in producing both goods, and a comparative advantage in producing sun dials. C. Deena has an absolute and a comparative advantage in producing both goods. D. Deena has an absolute advantage in producing both goods, but no one has a comparative advantage in producing either good.