In 2011 Buckeye Brewing produced 1,000 bottles of ginger ale each day. It employed 10 workers each working 8 hours a day. In 2012 it produced 960 bottles of ginger ale each day employing 8 workers who worked 8 hours each day. Productivity at Buckeye Brewing

Which of the following is a key property of models?

A) All economic models begin with assumptions. B) Empiricism is not essential for testing models. C) All models can be used for a limited time period only. D) All models are consistent and do not make incorrect predictions.

The greater the number of buyers and sellers with access to securities markets, the

A) higher the true equilibrium price will be. B) higher the yields on securities will be. C) lower the yields on securities will be. D) closer securities prices will be to the true equilibrium price.