Credit cards are regularly used in economic? exchanges, so credit card balances are included in the definition of money.
Indicate whether the statement is true or false.
Answer: False.
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Acme Widget tells investors it wants to build a new widget factory and sell investors $10,000,000 in bonds to finance it
Once they have raised the $10,000,000 the owners of Acme Widget use the funds to finance a trip to Atlantic City to try out a new scheme they have devised to win at blackjack. This is an example of A) the adverse selection problem in financial markets. B) the moral hazard problem in financial markets. C) the difficulty lenders have in distinguishing good from lemon firms. D) the problems with using rational expectations in financial markets.
If price of product A increases by 10%, and the quantity demanded for product B drops by 50%, then these two products are
A) substitutes. B) complements. C) normal goods. D) inferior goods.
Identify the correct statement from the following
a. Good faith bargaining implies the seller will never decrease the price for a particular buyer. b. Distrust is the norm when electricity producers negotiate a deal to exchange power by misrepresenting their costs. c. Poker is the exception where norms do not come into play. d. Good faith bargaining norms vary among different types of transactions.
Under which one of the following market structures are sellers most likely to consider the reaction of rival sellers when they set the price of their product?
a. price-taker firms b. pure monopoly c. price searchers with low entry barriers d. oligopoly