Trade can occur only if property rights are
A. not enforced.
C. legally binding.
D. not transferable.
B. transferable.
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Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month. Why would OPEC, a cartel, restrict production?
A) to decrease demand B) to increase supply C) to decrease quantity supplied D) to increase profits
According to the liquidity premium theory, a steep yield curve may be an indicator of
A) expectations of a significant increase in inflation. B) an upcoming recession. C) an economic slowdown. D) lower future short-term interest rates.
An increase in the money supply might indicate that the Fed had
a. purchased bonds in an attempt to increase the federal funds rate. b. purchased bonds in an attempt to reduce the federal funds rate. c. sold bonds in an attempt to increase the federal funds rate. d. sold bonds in an attempt to reduce the federal funds rate.
Refer to the below table. What is the marginal revenue product if the firm employs the 12th worker?
A. $19.50
B. $26.50
C. $42.50
D. $47.50