What is the 'net marginal benefit' for a student of buying a new book vs a used book for a class if 1) for the new book, cost = $130, required web access cost = $0, resale value = $50 and 2) for the used book, cost = $90, required web access cost = $30, and resale value = $10?
a) +$80
b) -$40
c) +$30
d) -$10
e) -$30
c) +$30
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What, if any, is the impact of the CPI bias on government spending?
What will be an ideal response?
Banks hold capital because
A) they are required to by regulatory authorities. B) higher capital increases the returns to the owners. C) it increases the likelihood of bankruptcy. D) higher capital increases the return on equity.
The real rate of interest can be defined as the
A. the market rate of interest expressed in today's dollars. B. nominal interest rate less the anticipated rate of inflation. C. anticipated rate of inflation less the nominal interest rate. D. nominal rate of interest less the unanticipated rate of inflation.
The value to the consumer is
A. the area under the demand curve but above the price line from the origin to the quantity purchased. B. the area under the supply curve from the origin to the quantity produced. C. the area under the supply curve but below the price line from the origin to the quantity purchased. D. the area under the demand curve from the origin to the quantity purchased.