Which of the following most resembles a perfectly competitive market?
A. The stock market
B. The publishing industry
C. The steel industry
D. The new car market
Answer: A
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Which of the following is an explicit cost of migration?
A. Wages a worker gives up when they leave their home country B. Adapting to a new culture C. Paying application fees D. The stress of looking for a job in a new country
In understanding and analyzing "market supply," we focus on how much all firms
A. will supply in the future at various prices. B. want to supply at a given price. C. are willing and able to supply at different prices. D. have sold in the recent past at various prices.
Which of the following bonds will have the highest yield-to-maturity if all three bonds appear identical to investors in terms of risk, liquidity, information costs, tax treatment?
A) one with a coupon of $50 B) one with a coupon of $100 C) one with a coupon of $200 D) none of the above
The same year that Derek Jeter, one-time shortstop for the New York Yankees, received an annual salary of $23.2 million, the president of the United States received an annual salary of $400,000. If the president of the United States actually contributed more to society than Derek Jeter, we can conclude that:
A. there is never a relationship between marginal revenue product and pay. B. the salary differences are based entirely on marginal revenue products. C. factors other than marginal revenue product probably explain the salary differences. D. the markets for their respective services are perfectly competitive.