An asset whose value is based on the value of another asset is called a:
A. dividend.
B. bond.
C. derivative.
D. stock.
Answer: C
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Use the following graph of an oligopolistic firm.
Suppose all firms within the cartel have identical costs of production. The cartel is earning
A. accounting profit but not economic profit. B. zero economic profit. C. economic profit. D. negative economic profit.
Banks may borrow from or lend to another bank in the Federal Funds market. A loan of excess reserves from one bank to another bank is recorded as a(n) ________ for the borrowing bank and a(n) ________ for the lending bank
A) asset; asset B) asset; liability C) liability; liability D) liability; asset
A comparative advantage in the production of oil is held by
A. Australia.
B. the United States.
C. both countries.
D. neither country.
Which of the following persons is most likely to be insured for health care?
A. A minimum-wage teenager working for a fast-food restaurant. B. A skilled worker employed by a large multinational corporation. C. An unemployed retail clerk. D. A part-time groundskeeper for a small manufacturing plant.