If a member of a cartel is the first to alert authorities to the cartel behavior, which of the following will occur to this member firm?
A) The firm will face significant fines.
B) The firm's most senior managers will face jail time.
C) The firm will not be considered whistle -blowers.
D) The firm will not be penalized.
D) The firm will not be penalized.
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The cost to a firm of producing one more unit of output
A) usually exceeds the firm's price. B) is significantly less than the firm's price for purely competitive firms operating in long-run equilibrium. C) usually equals the firm's price for monopolistically competitive firms. D) is the firm's marginal cost.
For S&Ls in the early 1980s the __________ cost of short-term deposits turned their net interest margin __________
A) increasing; positive B) increasing; negative C) decreasing; positive D) decreasing; negative
If events in a single country cause its economic activity to move up or down through a business cycle, what difference(s) might it make that the economy is closely integrated with other economies in the world?
What will be an ideal response?
Think of the situation of rolling two dice and let M denote the sum of the number of dots on the two dice. (So M is a number between 1 and 12.)
(a) In a table, list all of the possible outcomes for the random variable M together with its probability distribution and cumulative probability distribution. Sketch both distributions. (b) Calculate the expected value and the standard deviation for M. (c) Looking at the sketch of the probability distribution, you notice that it resembles a normal distribution. Should you be able to use the standard normal distribution to calculate probabilities of events? Why or why not? What will be an ideal response?