In the final phase of benefit-cost analysis, one of the steps that is generally conducted is
a. to compare time-adjusted benefits to zero
b. to compare time-adjusted costs to unity
c. to determine if PVB and PVC are inversely related
d. to determine if an option is feasible
d. to determine if an option is feasible
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Compare and contrast the principles of utilitarianism, Rawlsianism and egalitarianism. Discuss the assumptions of each and the difficulties societies might face while trying to conform to them.
What will be an ideal response?
If average variable cost exceeds average fixed cost at a particular level of output: a. Profits must be positive
b. That fact is meaningless for deciding the quantity of output to produce. c. It is more likely that the output level is low relative to the designed capacity of the production facility than that the output level is low relative to the designed capacity of the production facility. d. Both b and c. are likely true.
John has just tried on the most comfortable pair of pants that he has ever known. The pants are a(n)
A) experience good. B) credence good. C) logo good. D) information good.
Suppose a bank has the following balance sheet:
Assets Liabilities Reserves $14,000 Deposits $100,000 Loans $90,000 Net Worth $4,000 If the required reserve ratio is 10 percent, how much excess reserves does the bank have? What is the maximum amount that the bank can expand its loans? What will be an ideal response?