When an inverse relationship is graphed, the resulting line or curve is:
A. horizontal.
B. vertical.
C. upward-sloping.
D. downward-sloping.
Answer: D
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In the dominant firm model, the smaller fringe firms behave like:
A) competitive firms. B) Cournot firms. C) Stackelberg firms. D) Bertrand firms. E) monopolists.
Which of the following situations is an example of bank mismanagement?
a. Bank A receiving a deposit of $40,000 from a client and giving it out as a loan to another client the next day b. Bank B giving a loan to a client, knowing he probably would not pay it back c. Bank C investing in bonds issued by the federal government since it could not find potential borrowers d. Bank D selling a loan to Bank C since it did not have resources to recover the loan
A college degree makes a person more productive according to
a. both the human-capital and the signaling theories of education. b. the human-capital but not the signaling theory of education. c. the signaling but not the human-capital theory of education. d. neither the human-capital nor the signaling theory of education.
In a binding situation, a positive cost shock will cause ________ in output and ________ in the price level.
A. no change; no change B. a decrease; no change C. no change; an increase D. a decrease; an increase