Quiz 3 Part 2

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1 point

At economic equilibrium the rate of price increase of natural resource equals the interest rate.

True

False

1 point

Economic Capital is the amount of money a firm has saved

True

False

1 point

As the interest rate declines, the present value of the MRP steam increases, leading to a reduction in the demand for capital.

True

False

1 point

According to WTO and national regulations, cartels are currently illegal.

True

False

1 point

In Economics the following statements apply to how land is considered:

The supply of land to a given use is upward sloping.

Land is shifted to its most valuable use

The supply of land to all uses increases as demand for all uses increases

Government receives property taxes in proportion to land value

a and b

1 point

The quantity of product produced is determined by:

the inflection point of the ATC curve

the intersection of the MC and MB curves

the intersection of the D and Po curves

the inflection point of the ATC curve

none of the above

1 point

Most good are produced in systems best characterized as:

Monoply

Oligopoly

Monopolistic Competition

Perfect Competition

b and c

1 point

According to Game Theory, the dominant strategy is:

the one that provides the maximum benefit to all platers

the one that minimizes the potential average costs

the one that provides the highest average payofff or an individual for each and every possible action by rivals

can vary depending on tolerance for risk

none of the above

1 point

Game theory suggests the dominant strategy for duopoly is:

product innovation

invest in advertising

seek a merger

lower prices

price leadership

10.

1 point

What Canadian legislation is equivalent to the U.S Civil Rights Act of 1964

Equal Rights Acts (ERA)

Human Rights Act (HRA)

Anti-Discrimination (ADA)

Charter of Rights and Freedoms (CRF)

Equal Opportunities Act (EOA)

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