Exhibit 1A-7 Straight line relationship
According to Exhibit 1A-7, the relationship between annual income and air-travel expenditures is:
A. direct.
B. inverse.
C. complex.
D. independent.
Answer: A
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Hannah's Bakery sells blueberry cheesecakes in a perfectly competitive market. The market price per cheesecake is $10 . At the current level of production of 500 cheesecakes per month, the marginal cost of production is $10 per cheesecake. In this scenario, Hannah is likely to: a. decrease the production of cheesecakes but stay open. b. increase the production of cheesecakes
c. continue producing the same level of cheesecakes. d. shut down the bakery.
Which of the following would best be a brief definition of present value?
A. Assets minus liabilities incurred to acquire the assets B. Benefits of an minus its costs C. The sum of all the past values of an asset D. The current value of the expected future returns on an asset
You would like to have $50,000 for a new car in six years. If you deposit money today in a bank CD that pays 4% per year, how much must your deposit be?
A. $38,050 B. $39,516 C. $40,323 D. $42,108
Consider the stock of ocean tuna which is massively overfished. It is rational for an individual to exploit the resource rather than to conserve the stock because
A) the marginal private benefit of harvesting tuna is lower than the marginal social benefit of harvesting it. B) the marginal private cost of harvesting the fish is lower than the marginal social cost. C) the marginal social cost of harvesting the fish is lower than the marginal private cost. D) the marginal private benefit of harvesting tuna is higher than the marginal social benefit of harvesting it.