Marcia has four savings accounts. Which account has the largest balance?
a. $100 deposited 1 year ago at an 8 percent interest rate
b. $100 deposited 2 years ago at a 4 percent interest rate
c. $100 deposited 4 years ago at a 2 percent interest rate
d. $100 deposited 8 years ago at a 1 percent interest rate
d
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Suppose the government levies a per-unit tax on TVs, and this tax increases the price of TVs by $100. Model TVs as x1 and all other goods as a composite good x2. a. For a consumer with income I, write down an equation for the before-tax budget line. b. Write down the after-tax budget line equation. c. Suppose you know the bundle on the after-tax budget that is chosen by the consumer contains 3 TVs. How much in tax revenue is the government raising from this consumer? d. If the government replaced the tax on TVs with a lump sum tax that does not alter any prices but raises the same amount of revenue from the consumer, how would this change the consumer's budget line equation?
What will be an ideal response?
Total profit is maximized if the slope of the total profit curve is
a. positive. b. negative. c. increasing. d. zero.
Which of the following is NOT included in the calculation of Gross Domestic Product (GDP)?
A. Mr. J's purchase of a share of General Motors stock B. the purchase of a raincoat by Mr. Z C. Mrs. T's use of a lawyer D. All of these would be included.
Retail stores that dedicate one or more aisles to "seasonal" items are engaging in ________
A) just-in-time production B) production smoothing C) work in process D) first degree price discrimination