Refer to Figure 9-4. Under autarky, the equilibrium price is
A) $54. B) $30. C) $0. D) $24.
B
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The price elasticity of demand for new cars is 1.2. Hence, a 10 percent price increase will
A) decrease the quantity of new cars demanded by 1.2 percent. B) increase consumer expenditure on new cars by 1.2 percent. C) decrease the quantity of new cars demanded by 12 percent. D) increase consumer expenditure on new cars by 12 percent.
The financial innovation of numerical credit scoring contributed to the ________
A) "democratization of credit" B) reduction of loan-to-value ratios C) "depersonalization of credit" D) reduction of information asymmetries
Which of the following modern methods of financing a corporation was not available to corporations four hundred years ago?
A) selling stock B) selling bonds C) reinvestment. D) All of these methods were used then as well as now.
Refer to Figure 7.6. Graph A represents:
A. increasing returns to scale.
B. decreasing returns to scale.
C. constant returns to scale.
D. diminishing marginal returns.