Economic costs of an input include
A) only implicit costs.
B) only explicit costs.
C) both implicit and explicit costs.
D) whatever management wishes to report to the shareholders.
C
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When Alex eats 1 slice of pizza, his total utility is 80; when Alex eats 2 slices of pizza, his total utility is 120. Alex's marginal utility from the second pizza is
A) 200. B) 80. C) 60. D) 40.
According to Gordon which of the following statements about Friedman's fooling model is accurate?
A) The demand for labor depends on the nominal wage. B) As prices increase, firms will offer higher real wages; these higher wages will bring forth an increase in the supply curve of labor. C) The supply curve of labor depends on the expected real wage. D) All of the above statements are accurate.
A financial intermediary that sells shares in itself to the public, and then uses the funds to buy a wide variety of financial assets is called a:
A. mutual fund. B. stock exchange. C. commercial bank. D. credit union.
An economy with a trade deficit must also have:
A. positive net capital inflows. B. a trade deficit. C. positive net capital outflows. D. a budget surplus.