An example of a heuristic is:
A. predatory lending.
B. a framing device.
C. common sense.
D. a rule of thumb.
Answer: D
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A firm's marginal cost is the increase in its total cost divided by the increase in its
A) quantity of labor. B) average cost. C) output. D) average revenue.
Suppose a Canadian investor buys a one-year U.S. government bond that pays 7 percent interest. If the U.S. dollar appreciates 4 percent against the Canadian dollar during the year, what must be the yield on a comparable Canadian government bond for interest rate parity to hold?
a. 3 percent b. 4 percent c. 7 percent d. 10 percent e. 11 percent
If the Fed buys government securities from depository institutions, the effect will be to
A. reduce loans and reduce the money supply. B. reduce loans and increase the money supply. C. increase loans and reduce the money supply. D. increase loans and increase the money supply.
Department stores are monopolistically competitive because stores differ in the amount of customer service they provide.
Answer the following statement true (T) or false (F)