Data confirms that the quantity theory of money:
A) holds only in the short run.
B) holds in the long run.
C) holds both in the long run and the short run.
D) does not hold either in the short run or in the long run.
B
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A product that has an elastic demand curve has all of the following characteristics EXCEPT
A) it has many substitutes. B) a consumer can wait to buy the product. C) it has few or no substitutes. D) it is a large part of a consumer's income.
If you thought the share price of a stock was going to fall, would you be more likely to buy a call option or a put option?
A) a call option B) a put option C) a call option and a put option D) There is not enough information given to answer this question.
In 2009, Samoa changed from everyone driving on the right side of the road to everyone driving on the left side of the road. Although everyone agreed that it was important to drive on the same side of the road, some Samoans were not happy about the change. This created a disagreement about which Nash equilibrium was the best equilibrium, and therefore represented
A) an assurance game.
B) a pure coordination game.
C) a battle of the sexes game.
D) a prisoner's dilemma game.
Suppose that 100 firms operate in a perfectly competitive industry and each firm has the same technology and cost structure. If each firm maximizes profits by selling 20 units of output at $5.00, then the quantity supplied in the market at $5.00 is:
A. 2,000. B. less than 2,000. C. greater than 2,000. D. zero.