Why are electronic transactions increasingly taking the place of paper transactions?
What will be an ideal response?
Because efficient payments systems continue to evolve and seek easier and cheaper ways to pay for things.
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If Faith attends college, it will take her four years, during which time she will earn no income. She will pay $50,000 for tuition, $12,000 for room and board, and $5,000 for books. If she spends the four years working rather than attending college, she will pay $18,000 for room and board, pay no intuition, and buy no books. Based on this information, Faith's economic cost of attending college
would be $67,000 if, over the four years, she could earn a. $12,000 instead of attending college. b. $14,000 instead of attending college. c. $16,000 instead of attending college. d. $18,000 instead of attending college.
The Coase theorem asserts that private economic actors can solve the problem of externalities among themselves, without government intervention, regardless of whether those actors incur significant costs in reaching and enforcing an agreement
a. True b. False Indicate whether the statement is true or false
When risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual, it is called:
A. diversification. B. risk analysis. C. risk aversion. D. risk pooling.
Suppose that TC = $550, TVC = $500, and MC = $100. If the firm produces 10 units of output, then:
A. AVC > MC B. AFC = AVC C. MC > AVC D. AVC = MC