Which of the following is a depository institution?
A) a life insurance company
B) a credit union
C) a pension fund
D) a mutual fund
B
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A TV actor used to be a teacher. Aside from the salary, he likes both jobs equally well. If he can earn $50,000 as a teacher and $300,000 as an actor, what are his economic rent and opportunity costs as an actor?
a. Economic rent is $250,000 . opportunity costs are $50,000. b. Economic rent is $50,000 . opportunity costs are $250,000. c. Economic rent is $50,000 . opportunity costs are $300,000. d. Economic rent is $300,000 . opportunity costs are $50,000. e. Economic rent is $300,000 . opportunity costs are $350,000.
What are the benefits of a franchise contract?
Assume that Szmul Hertz has an MPC equal to 0.80 . If he normally earns $40,000 per year, but is laid off for part of 2000 and only earns $25,000 . his consumption for 2000 . according to Milton Friedman, will be
a. $16,000 b. $12,000 c. $32,000 d. $40,000 e. $25,000
When a firm invests in new technology, it expects to make a profit and thus receive a private benefit. However, ____________ can also be attained if the dollar value of all benefits of a new product or process invented by a company can be captured by other firms and by society as a whole.
a. additional profits b. social benefit c. nonrivalrous results d. nonexcludable benefits