In 2015, the population of the world
A. was approximately 500 million people.
B. fell below 2 billion people.
C. was more than 7 billion people.
D. was close to 1 trillion people.
Answer: C
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Which of the following is true of a duopoly with differentiated products?
A) A firm loses all its customers when its rival lowers the price of its product. B) A firm does not lose all its customers when its rival lowers the price of its product. C) A firm faces a perfectly elastic demand curve. D) A firm faces a perfectly inelastic demand curve.
Three factors explain the risk structure of interest rates
A) liquidity, default risk, and the income tax treatment of a security. B) maturity, default risk, and the income tax treatment of a security. C) maturity, liquidity, and the income tax treatment of a security. D) maturity, default risk, and the liquidity of a security.
Suppose that prices in the United States rise relative to prices in France. We expect that (on the foreign exchange market) the demand for U.S. dollars will __________ and the supply of dollars will __________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
In a situation in which internal costs differ from social costs, we say that there exists a(n)
A. internality. B. welfare loss. C. externality. D. welfare benefit.