Which of the following measures net exports for the year, including transactions involving services, investment income, and transfers?
A. Balance of trade
B. Balance on the current account
C. Budget balance
D. Balance of payments
B. Balance on the current account
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Does optimization at the margin have any advantage over optimization in levels? Explain with the help of a suitable example
What will be an ideal response?
Laura's Pizza Place incurs $800,000 per year in explicit costs and $100,000 in implicit costs. The restaurant earns $1.3 million in revenues and has $5 million in net worth
Based on this information, what is the economic profit for Laura's Pizza Place? A) $200,000 B) $400,000 C) $500,000 D) $2.8 million
Many college football teams require a "donation" in order to purchase season tickets. This is
A) price gouging. B) a tie-in sale. C) two part pricing. D) anti-competitive behavior.
If a natural monopolist is unregulated, then
A. the monopolist will be earning just a normal rate of return on investment. B. the monopoly will produce inefficiently from society's point of view. C. the monopoly will produce efficiently from society's point of view. D. the monopolist will determine the profit maximizing quantity by equating marginal cost to the demand curve.