Financial securities that represent promises to repay a fixed amount of funds are known as
A) stocks. B) pension funds.
C) bonds. D) insurance premiums.
C
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If all conditions for a perfectly competitive market are met,
A) firms face sunk cost when entering the market. B) firms' demand curves are horizontal. C) the market demand curve is horizontal. D) the firms' demand curves are downward-sloping.
The point price elasticity of demand for red herring is -4. The demand curve for red herring is: Q = 120 - P. What is the price of red herring?
A) $96 B) $80 C) $100 D) $120 E) none of the above
If the multiplier is 20 and income increases by $1000, then saving will increase by
A. $1000. B. $800. C. $80. D. $50.
Suppose at the current level of labor used, MRP = $20 and MFC = $25. To maximize profits, the firm should
A. maintain the current level of labor. B. reduce the level of labor. C. expand production. D. hire more labor.