If a firm buys a specialized metal stamping machine that will last 4 years for $125,000 and cannot resell it, the sunk cost is
A) $0.
B) $31,250.
C) $125,000.
D) $93,750.
C
Economics
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______________ is another term for perfect elasticity.
a. Zero elasticity b. Infinite elasticity c. Constant unitary elasticity d. Zero inelasticity
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How are the CPI and the GDP deflator alike? How do they differ?
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The Bretton Woods agreements were ended when the
a. European Common Market was formed. b. OPEC countries raised the price of oil. c. United States was forced to devalue its currency. d. United States recognized Red China.
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Internet sites such as eBay make it easier for sellers and buyers to find one another and, by doing so,
a. reduce transactions costs. b. increase transaction costs. c. reduce the number of exchanges that occur. d. lower the value created by the goods and services available.
Economics