An example of something that might be sold in the underground economy is:
A. lawn-mowing services.
B. endangered animals.
C. baby-sitting services.
D. All of these could be exchanged in the underground economy.
D. All of these could be exchanged in the underground economy.
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Alex received a four-year scholarship to State U. that covered tuition and fees, room and board, and books and supplies. If Alex becomes a full-time student, then:
A. the opportunity cost of attending State U. includes the sum of the benefits Alex would have had from attending each of the other schools to which he was admitted. B. Alex has no incentive to study hard while at State U. C. the opportunity cost of attending State U. includes the money Alex could have earned working for four years. D. attending State U. for four years is costless for Alex.
If a firm has a market share that exceeds ________ percent, most courts will conclude that the firm is a monopoly and if the market share exceeds ________ percent, the courts are likely to conclude that the firm is coming "dangerously close" to being a monopoly.
A) 99; 50 B) 75; 50 C) 90; 75 D) 80; 60
Which of the following is GDP designed to measure?
a. the total market value of goods and services produced domestically during the year b. changes in the cost of purchasing the typical consumer market basket of goods from one year to another c. the total size of the domestic underground economy d. the standard of living of the average citizen
A nation's market-risk premium is related directly to the:
a. Volatility of central bank policies due to unpredictable changes in major macroeconomic variables. b. Volatility of a company's cash flows due to predictable and quantifiable changes in major macroeconomic variables. c. Unpredictable changes in market structure, such as shifts from pure competition to oligopoly or oligopoly to monopoly. d. A company's inability to market products in a recession or period of general disruption. e. Volatility of a company's cash flows due to unpredictable changes in major macroeconomic variables.