Stock prices can be described as "random walks" if there is no relationship between one day's prices and the following day's prices
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following would create a natural monopoly?
A) ownership of all the available units of a necessary input B) an exclusive right granted to supply a good or service C) requirement of a government license before the firm can sell the good or service D) technology enabling a single firm to produce at a lower average total cost than two or more firms E) a patent granted the producer of the good or service
Assume that Frantek Bass has an MPC equal to 0.80 . If he normally earns $50,000 per year, but is laid off for part of 2000 and only earns $30,000 . his saving for 2000 . according to Milton Friedman, will be
a. $24,000 b. $10,000 c. $6,000 d. –$6,000 e. –$10,000
In corporations, which of the following are principals but not agents?
a. shareholders b. the board of directors c. managers d. workers
A balanced budget occurs when
A) the national debt is reduced to zero dollars. B) a budget deficit during one year is matched by a budget surplus in the next year. C) transfer payments equal tax revenues. D) government expenditures equal tax revenues. E) the deficit-GDP ratio equals one.