The principle of asset valuation applies to
a. physical capital
b. natural resources
c. human capital
d. stocks and bonds
e. all of the above
E
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The per capita GDP for Japan in 2014 was $48,500 and in 2015 was $49,470. How much did the Japanese per capita GDP grow in 2015?
A) 2 percent B) -2 percent C) 3 percent D) Cannot be determined without further information
Suppose a firm is hiring 20 workers at a wage rate of $60. The average product of labor is 30, the last worker added 12 units of output, and total fixed cost is $3,600. What is average total cost?
A. $8 B. $1800 C. $2 D. $600 E. none of the above
According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is
A. considered unemployed. B. considered underemployed. C. counted as a "not currently working" member of the labor force. D. not a member of the labor force.
Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. The $30 when you "win" and the -$6 when you "lose" are called
A. trade-offs. B. incentives. C. expected values. D. payoffs.