The largest regulatory change in U.S. financial markets since 1930 is known as:
A. the Gramm-Leach-Bliley Act.
B. Basel III.
C. the Dodd-Frank Act.
D. the Fred-Bob Act.
Answer: C
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Which of the following is true?
i. When the world price of a good is lower than the price that balances domestic supply and demand, a country gains from exporting the good. ii. Compared to a no-trade situation, imports make consumers better off. iii. Quotas raise the domestic price of imported goods. A) Only i B) Only ii C) Only iii D) i and ii E) ii and iii
The economic surplus of an action is:
A. the benefit gained by taking an action. B. the money a person has left over after taking an action. C. the difference between the explicit and implicit costs of taking an action. D. the difference between the benefit and the cost of taking an action.
The maximum value that the Herfindahl-Hirschman Index can attain is
A) 1. B) 10. C) 100. D) 10,000.
If a firm increases production, then its:
A. variable costs rise. B. fixed costs stay the same. C. total costs increase. D. All of these are true.