A study of the per capita consumption of gasoline: in 10 countries demonstrates that:
A. the consumption of gasoline does not appear to be related to the price of gasoline.
B. higher gasoline prices reduce consumption in some of those countries, but not in others.
C. higher gasoline prices do result in lower consumption of gasoline.
D. higher gasoline prices actually increase the consumption of gasoline.
C. higher gasoline prices do result in lower consumption of gasoline.
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XYZ Gadget Company is currently considering which investment projects it should undertake. The following list of projects along with the estimated rate of return of each project is presented to the executive management team:Project A (8.5%)Project B (7%)Project C (6%)Project D (11%)Project E (5.5%)The current interest rate in the loanable funds market is 5%. However, if an increase in government borrowing pushes the interest rate to 7.5%, we would expect the company to discontinue investment plans for all but ________ of its planned projects.
A. two B. three C. four D. one
Which of the following is most likely to be a feature of a state-contingent contract?
A) The agent pays the principal a higher licensing fee when demand is high compared to when demand is low. B) The agent makes the same wage regardless of demand. C) The agent, who lives in Nevada, earns more money on out-of-state sales (e.g., sales to California or New York) than in-state sales. D) The restaurant owner (principal) pays the waiter (agent) more when it is snowing or raining outside.
Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately
a. 10 percent b. 12 percent c. 17 percent d. 20 percent e. 25 percent
Accounting profit is equal to?
A. Total revenue minus the explicit cost of producing goods and services. B. Total revenue minus the opportunity cost of producing goods and service. C. Average revenue minus the average cost of products the last unit of a good or service. D. Marginal revenue minus marginal cost. E. Total revenue minus depreciation.