Perfectly competitive markets are not the best at producing the goods that are desired by consumers
a. True
b. False
Indicate whether the statement is true or false
False
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According to the U.S. Treasury,
A) creditors do not have to accept cash in payment of debts. B) U.S. dollars must be accepted as payment for any good or service sold in the United States. C) firms do not have to accept cash as payment for goods and services. D) the government will not accept cash in payment of taxes.
________ in the domestic interest rate causes the demand for domestic assets to shift to the ________ and the domestic currency to depreciate, everything else held constant
A) An increase; right B) An increase; left C) A decrease; right D) A decrease; left
Clifford lives by the motto "Eat drink and be merry today, for tomorrow doesn't matter"
If today's consumption is represented by "x" and tomorrow's consumption is represented by "y", then which of the following best represents Clifford's utility function? A) U = x - y B) U = x/y C) U = x D) U = y
As a fishing firm hires its first, second, and third workers, it could find that marginal product actually rises. The reason for this is
a. diminishing returns have set in b. the division of labor creates greater productivity c. the firm has hired another boat d. all tasks are shared by all workers e. less qualified workers are becoming available