The Chinese government has prohibited anyone in China from dealing with bitcoin exchanges
Indicate whether the statement is true or false
True
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The "lemons problem" exists because of
A) transactions costs. B) economies of scale. C) rational expectations. D) asymmetric information.
The Herfindahl-Hirschman Index is used to measure
A) brand recognition. B) the ease of market entry. C) market power. D) none of these choices.
Jan's Dry Cleaning holds $10,000 on a typical day, although only $2,000 is essential for carrying out business. Making a midday deposit is estimated to reduce cash holdings to $8,000 and cost an extra $80 per year in lost production. If, in addition, an armored car service is engaged to pick up cash more frequently for a fee of $120 per year, cash holdings will be further reduced to $6,000 per day. Employing a computerized cash management service for an annual fee of $180 would reduce cash holdings further to $4,000. If any reduction in cash holdings will be invested in government bonds earning 7 percent, then how much money should Jan's hold?
A. $4,000 B. $10,000 C. $6,000 D. $8,000
A 2 percent increase in the price of wheat leads to a 2 percent decrease in the quantity demanded of rice. The absolute price elasticity of demand is
A. 0.1. B. 6. C. 3. D. 1.