The overall volume of daily currency trade was __ in 2007.
a. $3.2 billion
b. $32 billion
c. $320 trillion
d. $320 billion
Ans: d. $320 billion
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Financial intermediaries provide customers with liquidity services. Liquidity services
A) make it easier for customers to conduct transactions. B) allow customers to have a cup of coffee while waiting in the lobby. C) are a result of the asymmetric information problem. D) are another term for asset transformation.
Economies of scale yield
a. declining average cost as output increases b. declining marginal cost as output increases c. declining total cost as output increases d. diminishing average returns as output increases e. increasing marginal revenue as output increases
Based on the graphic for perfect competition versus monopoly, the change between the producer surplus of perfect competition and the producer surplus of a monopoly is ______.
a. a – b
b. a + b
c. b
d. –c
Efficient production implies that it is:
A) possible to produce more of all goods and services. B) it is possible to produce more of one good without producing less of another. C) not possible to produce more of one good without producing less of another good. D) producing at a combination of goods which lies between the production possibilities curve and the origin.