If the demand curve for a firm's output is P=100-2Q, the total revenue curve will be
A. TR=2P*Q.
B. TR=100Q-2Q2.
C. TR=100-2Q.
D. TR=100Q-Q2.
Answer: B
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Futures trading has traditionally been dominated by
A) the New York Stock Exchange. B) the Chicago Board of Trade and the New York Mercantile Exchange. C) the London Stock Exchange. D) the Omaha Grain Exchange.
Which of the following would most likely NOT be included in the liquidity approach to defining the money supply?
A. money market mutual fund accounts B. traveler's checks C. government bonds D. savings deposits
Refer to the data provided in Table 17.5 below to answer the following question(s). The table shows the relationship between income and utility for Lucy. Table 17.5 IncomeTotal Utility $00$10,00010$20,00020$30,00030$40,00040Refer to Table 17.5. Lucy earns $20,000 annually. She has the opportunity to bet her entire salary on the upcoming super bowl. If Lucy takes the bet, she will pick the Packers. She believes that the Packers have a 50-50 chance of winning the game. If the Packers win, Lucy will double her money ($40,000) but if they lose she loses her entire salary ($0). This bet can be characterized as
A. risk-neutral. B. risk-loving. C. a fair bet. D. an unfair bet.
The Federal Reserve's policy to "lean against the wind" means
A. when output and/or the price level are low, the Fed sets a low interest rate to stimulate the economy. B. that the Federal Reserve chairman will oppose Congress' pressure to raise interest rates. C. when output and/or the price level are high, the Fed sets a high interest rate to rein the economy in. D. that the Fed will lower the interest rate to rein in the economy.