A minimum wage above the equilibrium wage is best characterized as a:
A. Price floor
B. Price ceiling.
C. Means of minimizing unemployment.
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Which of the following is least likely to be a warning sign of low quality earnings？
A. Greater use of operating leases than peer companies.
B. Use of a higher discount rate in pension plan assumptions.
C. A ratio of operating cash flow to net income greater than 1.0.
Relative to an investor with a steeper indifference curve, the optimal portfolio for an investor with a flatter indifference curve will most likely have:
A lower level of risk and return.
B. A higher level of risk and return.
C. The same level of risk and return.
Which of the following statements is least likely an advantage of investing in hedge funds through a fund of funds？ Funds of funds provide:
An increase in expected return through diversification.
B. Expertise in selecting funds and conducting due diligence.
C. Access to successful funds that may otherwise be closed to new investors.
Regarding a companys production function, both labor costs and capital costs are best described as:
A. Fixed in the long run.
B. Variable in the long run
C. Variable in the short run
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