Angel Rodriguez pulls up in his 24-foot panel truck in front of Sezz Medi Brick Oven Pizza in Upper Manhattan. Even though it's the middle of the summer, he's delivering— firewood
He says even though fuel costs have doubled in the past year, it's still worth the premium he gets delivering ash and cherry to the captive and growing market in NYC. How would an increase in Angel's salary affect short run costs? A) Short run variable costs would increase.
B) Short run fixed costs would decrease.
C) Short run total costs would decrease.
D) Short run average fixed costs would increase.
A
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If planned investment changes as interest rates change, then
A) autonomous consumption changes. B) autonomous investment changes. C) total expenditures and output changes. D) the marginal leakage rate changes.
Though many assets can be used as a store of value, money is a particularly attractive method to store value because:
a. it increases in value as prices rise. b. its purchasing power does not decline when prices rise. c. it is the most liquid of all assets. d. it is backed by gold.
Enron's bankruptcy is much more troubling than Kmart's or Global Crossing's because
A. Enron was much bigger. B. Enron had more stockholders. C. Enron had more employees. D. Enron's trouble resulted from corrupt accounting practices.
Ebay has created a _______ market for goods that previously had purely _______ markets.
Fill in the blank(s) with the appropriate word(s).