Which tax is fixed at 15.3 percent of wages?
a. FICA
b. federal income
c. property
d. Medicaid
a. FICA
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The discount factor ________ the ________ value to convert it to the ________ value.
A) reduces; present; future B) increases; present; future C) reduces; future; present D) increases; future; prese
Vertical contracts between manufacturers and retailers often aim to
a. Prevent the manufacturers from upstream price discrimination b. Reward the manufacturer for undertaking the risk inherent in introducing a new product c. Serve as a "signal" of the manufacturer's belief of the likely success of his product d. All of the above
The presence of excess reserves does not change how much money the banking system actually creates
Indicate whether the statement is true or false
Use the following information to answer the next question.Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10% interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 each. Of the $75, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The explicit costs of Harvey's firm in the first year were
A. $655,000. B. $605,000. C. $825,000. D. $150,000.