Interest is the payment for the use of funds used to produce capital
a. True
b. False
Indicate whether the statement is true or false
True
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If the price of goods X and Y change proportionally, then which of the following is true?
a. The budget line will not change because the prices have changed proportionally. b. It is not clear what happens to the budget line because too many factors have changed. c. It will appear as if the budget line has shifted even though income has not changed. d. It will appear as if the budget line pivoted and the slope will change because prices changed.
Total fixed cost falls as output expands.
Answer the following statement true (T) or false (F)
The spot exchange market is for ________ delivery, whereas a forward contract permits a firm to buy or sell currency for ________ delivery
A) future; immediate B) local; distant C) immediate; future D) long-term; short-term
For a "superstar" to emerge, it must be the case that
a. it is possible to supply the good or service that the superstar produces at low cost to every customer. b. some customers are willing and able to pay large sums of money to enjoy the good or service provided by the superstar. c. the superstar has a natural monopoly on his or her good or service. d. the superstar can become sufficiently popular to earn income from advertisements.