Recall the Application about housing prices in Cuba to answer the following question(s).According to the Application, in 1960 the Cuban government:
A. confiscated most housing in the country.
B. did not allow people to sell or rent their homes.
C. caused a large shortage of housing as a result of its policies.
D. All of these.
Answer: D
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Refer to Figure 7-2. With the tariff in place, the United States consumes
A) 18 million pounds of coffee. B) 20 million pounds of coffee. C) 26 million pounds of coffee. D) 38 million pounds of coffee.
A firm's demand curve for labor is equal to the
A) total revenue product. B) marginal revenue product. C) marginal factor cost. D) marginal wage.
The market demand for wheat is Q = 100 - 2p + 1pb + 2Y. If the price of wheat, p, is $2, and the price of barley, pb, is $3, and income, Y, is $1000, the income elasticity of wheat
A) is 2 ? (1000/2099). B) is 2. C) is 1/2 ? (1000/2099). D) cannot be calculated from the information provided.
One asset has a beta of 1.5 and another asset has a beta of 0.75. The difference in beta mean that the asset with a beta of 0.75 has:
A. 75 percent less nondiversifiable risk than the asset with a beta of 1.5 B. 75 percent more nondiversifiable risk than the asset with a beta of 1.5 C. Twice as much nondiversifiable risk as the asset with a beta of 1.5 D. One-half of the nondiversifiable risk of the asset with a beta of 1.5