The money demand curve will shift to the right if:
A. ATM machines are introduced.
B. real income increases.
C. the nominal interest rate increases.
D. the price level decreases.
Answer: B
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Refer to Table 2.3. Assume that 2010 is the base year. The GDP deflator for 2007 is
A) 67.1. B) 84.5. C) 100.0. D) 118.3.
Opportunity wage refers to the
A. Income an individual loses when he or she quits a job. B. Value of goods and services that could be purchased with a certain individual's income. C. Highest wage an individual would earn in his or her best alternative job. D. Income equivalent of a volunteer worker.
A vertical merger takes place when
A. a firm acquires a conglomerate. B. a firm acquires a competitor. C. a firm integrates its production backward toward its source of supply or forward in its marketing chain. D. firms merge in order to diversify.
A network externality acts as a barrier to entry.
Answer the following statement true (T) or false (F)