If the forward rate for a foreign currency is less than the spot rate, the foreign currency is selling at a forward premium.
a. true
b. false
b. false
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A profit-maximizing monopolist
a. is just as socially efficient as a perfectly competitive firm in allocating resources to production since she, too, seeks the largest return on his investment. b. produces an output level at which marginal utility exceeds marginal cost. c. produces more output than a perfectly competitive industry. d. always produces in the inelastic region of his demand curve.
Social Security transfers wealth from younger generations to older generations
a. True b. False Indicate whether the statement is true or false
Which of the following is equivalent to the natural rate of unemployment?
A. An unemployment rate of zero percent B. The nonaccelerating inflation rate of unemployment C. The rate of cyclical unemployment D. The underemployment rate
An act of production, as economists use the term, is demonstrated by which of the following?
A. An individual buys municipal bonds to avoid taxes. B. A firm buys a pre-existing building in order to expand its operations. C. A worker places money in a pension fund. D. A local nonprofessional theater company performs a play.