You decided to take a college accounting course to brush up on your knowledge of the language of business. The tuition expense was $500. After the date has expired to receive a refund for the course, you are offered a job that would conflict with your class time. In making the decision to accept or decline
A. the opportunity cost of the job.
B. the expected gain in pay from taking the accounting course.
C. a sunk cost.
D. a sunk benefit.
C. a sunk cost.
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How did McDonald's attempt to address the cultural differences around the world in selling its product?
What will be an ideal response?
Simultaneous causality
A) means you must run a second regression of X on Y. B) leads to correlation between the regressor and the error term. C) means that a third variable affects both Y and X. D) cannot be established since regression analysis only detects correlation between variables.
Which of the following would tend to increase the value of a future stream of income?
a. an increase in the rate of inflation b. an increase in the interest rate c. a reduction in the interest rate d. a reduction in the size of the expected future income
Consider a labor market in which employers discriminate against African Americans. Comparing the labor market equilibrium with no discrimination to the equilibrium with discrimination,
A. The African American wage rate is higher without discrimination than with discrimination. B. The number of African American workers hired is lower without discrimination than with discrimination. C. The white wage rate is higher without discrimination than with discrimination. D. The African American wage rate and the white wage rate are equal with and without discrimination; only the number of workers differs.