The implicit cost of ownership:
A. is a cognitive bias.
B. is an unproven concept.
C. is the monetary opportunity cost that is often overlooked.
D. All of these are true.
A. is a cognitive bias.
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A market situation in which there are a few large firms is called
A) monopolistic competition. B) imperfect competition. C) oligopoly. D) monopoly.
The stability of consumption over the business cycle and the ability of changes in the real interest rate to redirect aggregate demand indicate that
a. government policy can improve the performance of the economy. b. market economies are inherently unstable. c. a market economy has a self-correcting mechanism that will help guide it toward full employment. d. recessions will be lengthy, and high rates of unemployment will persist for a period of time even after the economy recovers.
The Glass-Steagall Act
A. was created in 1933 to divide commercial banking from investment banking. B. allowed banks to become more diverse in the investments they were allowed to make. C. made U.S. banks similar to the "universal banks" of continental Europe. D. created conflicts of interest between commercial banks and investment banks.
Given their skills and knowledge, mine workers earn higher incomes than they would in another occupation. This is partly because:
A. mine workers have a higher risk of injury or death. B. few people have the skills and knowledge required for mining works. C. the skills required of mine workers can be acquired through costly training. D. All of these