Refer to the table below. What is the probability of selling exactly 23 cakes?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) 0.20
B) 0.10
C) 0.30
D) 0.00
C) 0.30
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An increase in the expected rate of inflation will ________ the expected return on bonds relative to the that on ________ assets, everything else held constant
A) reduce; financial B) reduce; real C) raise; financial D) raise; real
If a perfectly competitive firm operates in the short run but exits the industry in the long run, then the firm's short run condition is
A. TR > TC. B. TR > TVC and TR < TC. C. TR < TVC. D. TR < TFC.
The precautionary demand for money is when people hold money
A) as a medium of exchange. B) for the interest it yields. C) to meet unplanned expenditures. D) as a store of value.
Lenders generally want borrowers to agree to invest prudently, yet once a loan is made borrowers may use the funds in a highly risky fashion. This leads to the problem of
A) deposit insurance. B) investor selection. C) critical mass. D) moral hazard.