Which of the following is an example of a good with a highly elastic supply curve?
a. luxury goods
b. tropical vacations
c. pizza
d. sports vehicles
c. pizza
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The Securities and Exchange Commission of the U.S. government requires that mutual fund companies publish a long and detailed prospectus which covers an array of areas including the cost of owning the fund, the types of stocks the fund invests in,
the management fee, administrative fees and an assessment of the type of risk that holding the fund represents. This is clearly designed with the intent of mitigating the imperfect information problem. However, can you think of any reason why the value of these documents is likely to be quite marginal?
A monopoly firm is a ______________ and faces a __________ sloping demand curve
a. Price taker; horizontal b. Price maker; horizontal c. Price maker; downward d. Price taker; downward
A country with an undervalued currency
a. will have a balance of payments deficit. b. will accumulate reserves of foreign currencies. c. will suffer losses of foreign reserves. d. must intervene in the foreign exchange market to buy its own currency.
Which of the following occupations is projected to be the fastest growing in the U.S. in terms of percentage increases?
A. Medical assistants. B. Biomedical engineers. C. Personal care aides. D. Software engineers.