The United States can be called a net debtor nation. This means that
A) the value of U.S. assets held abroad is worth less than the value of foreign assets held in the U.S.
B) the U.S. government owes more money than it takes in.
C) the value of the U.S. currency is less than the value of currencies for our main trading partners.
D) the U.S. manufactures more goods abroad than it manufactures domestically.
A
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Suppose Campus Books, a profit-maximizing firm, is the only supplier of the textbook for a given class. The marginal cost of supplying each book is constant and equal to $10, and Campus Books has no fixed costs. The table below shows the reservation prices of the eight students enrolled in the class.StudentReservation Price($/Book)Q60R54S48T42U36V30W30X30 What price will Campus Books charge if it must charge a single price to all of its customers?
A. $36 B. $24 C. $10 D. $18
The cost-benefit analysis on the financial impact smokers have on society conducted by Vanderbilt professor Kip Viscusi concludes that
A) smokers provide a net public service to society. B) smokers are a financial drain on society. C) smokers contribute less to retirement and pension programs than they receive from those programs. D) smokers account for about 32 cents of net cost to everyone else in society for every pack of cigarettes smoked.
Organic food might be good for your health but in light of the 2008 downturn in the economy and falling incomes, consumers are buying less organic and more non-organic food. Based on these events, what is TRUE?
A) Organic food is a normal good and non-organic food is an inferior good. B) Organic food is an inferior good and non-organic food is a normal good. C) Organic food is a normal good and non-organic food is a normal good. D) Organic food is an inferior good and non-organic food is an inferior good.
If a product which costs $8 is sold at $10, the profit margin is
A) $2. B) 25%. C) 20%. D) None of the above