_____________ is defined as firm's ability to earn above-average profit
a. Resource heterogeneity
b. Superior performance
c. Competitive advantage
d. Sustainable advantage
b
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A checkable account
A) is a very illiquid asset. B) is one on which the holder can write checks. C) must be traded on the stock exchange. D) cannot serve as a store of value.
All of the presidents of the regional Federal Reserve banks
a. attend each FOMC meeting. b. have voting rights at each FOMC meeting. c. are appointed by the president of the U.S. and confirmed by the U.S. Senate. d. All of the above are correct.
Country A would have an absolute advantage compared to Country B in the production of corn if
A. Country A uses fewer resources to produce corn than Country B does. B. the demand for corn is higher in Country A than in Country B. C. corn can be produced at lower cost in terms of other goods than it could be in Country B. D. corn sells for a higher price in Country A than in Country B.
Which one of the following is not a method used to set transfer prices?
A. Marginal production cost method B. Opportunity cost method C. Negotiated pricing method D. Market price method