Which of the following is a loan that entitles the lender to get regular interest payments over time, and then to get back the principal at the end of the term of the loan?
A. A revolving credit account
B. A mutual fund
C. A share of stock
D. A bond
Answer: D
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In the long run, output is determined solely by the supply of capital and the supply of labor, not the price level
Indicate whether the statement is true or false
Figure 5-17
Which of the following statements about Figure 5-17 must be correct?
a.
The consumer pays a higher dollar price per unit for good Y at A than at D.
b.
The consumer pays the same dollar price per unit for good Y at A and at B.
c.
The consumer pays a higher dollar price per unit for good X at D than at A.
d.
The consumer pays a higher dollar price per unit for good X at A than at C.
Even where imitation is possible, a firm may gain advantage from being the first to introduce an innovative product because of:
A. long-lasting brand-name recognition. B. a time lag between innovation and imitation by rivals. C. trade secrets that limit the ability of rivals to exactly imitate the product. D. all of these.
Figure 11.1If Figure 11.1 depicts the current situation for a monopolistically competitive firm, then in the long run we expect:
A. the firm's demand curve to shift to the left. B. the firm's demand curve to shift to the right. C. the price of the good to increase. D. the quantity of the good sold by the firm to increase.