The rate of interest that you pay on a home loan depends upon all of the following EXCEPT
A) the supply of houses in the real estate market.
B) the length of the loan.
C) your credit rating.
D) handling charges or loan fees.
Answer: A
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If the market for bottled water is perfectly competitive, how will the following aspects differ in the short run and in the long run?
a. Use of inputs b. Market supply curve of bottled water when firms have identical cost structures c. Profitability of firms with identical cost structures d. Condition to stop production e. Average cost curves of a firm f. Number of firms
Fundamentally, to reap the benefits of specialization, an economy must
A) be heavily industrial. B) be heavily agricultural. C) have an extensive system of higher education. D) develop ways for individuals to trade goods with one another.