Arbitrage means seeking profit by
A) buying high and selling low.
B) buying low and selling high.
C) either of the above.
D) neither of the above.
B
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Refer to the scenario above. The average total cost of Firm A when it produces 100 pens is $3, and the average total cost of Firm B when it produces 50 pens is $7. At these levels of production, which of the following statements is true?
A) Both firms incur losses. B) Firm A incurs a loss but Firm B makes a profit. C) Firm B incurs a loss but Firm A makes a profit. D) Both firms make profits.
If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do
in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016? A) The BLS will not change the growth rate of productivity. B) The BLS will adjust the growth rate downwards. C) The BLS will adjust the growth rate upwards. D) The BLS will adjust the level of labor productivity upward and the growth rate downward.