If there are four goods in a barter economy, then one needs to know ________ prices in order to exchange one good for another. A) 8 B) 6 C) 5 D) 4 ANSWER B
Date: September 10th, 2020
Certain hotels offer promotional strategies in which kids under 12 eat free at the hotel’s restaurant. This is an example of second-degree price discrimination. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Budgets deficits can be a concern because they might A) ultimately lead to higher inflation. B) lead to lower interest rates. C) lead to a slower rate of money growth. D) lead to higher bond prices. ANSWER A
Date: September 10th, 2020
If $1000 was deposited in a bank and the reserve requirement is 0.10, how much is available for loans? A) $900 B) $910 C) $920 D) $930 ANSWER A
Date: September 10th, 2020
If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for another. If, however, there are ten goods in a barter economy, then one needs to know ________ prices in order to exchange one good for another. A) 20 B) 25 C) 30 D) […]
Date: September 10th, 2020
Because it is a unit of account, money A) increases transaction costs. B) reduces the number of prices that need to be calculated. C) does not earn interest. D) discourages specialization. ANSWER B
Date: September 10th, 2020
A perfectly competitive firm will maximize profits (or minimize losses) so long as price (marginal revenue) is: A) greater than marginal cost. B) greater than average fixed cost. C) greater than average total cost. D) greater than average variable cost. ANSWER D
Date: September 10th, 2020
Which of the following are reported as liabilities on a bank’s balance sheet? A) reserves B) checkable deposits C) consumer loans D) deposits with other banks ANSWER B
Date: September 10th, 2020
Cross-section data observed at several points in time are called inverted data. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Using a change in supply and/or demand, explain the following phenomena: a. All else constant, gasoline prices are higher in summer than winter months. b. At the same time that the quality of personal computers has been increasing, the price of personal computers has been falling. ANSWER a. Demand for travel is higher in […]
Date: September 10th, 2020
