The U.S. central bank ________
A) usually raises taxes to stabilize a slowing economy
B) encourages higher savings rates by raising the national sales tax
C) is known as the Federal Reserve
D) all of the above
E) none of the above
C
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In Bangladesh, the government guarantees rice farmers that it will buy rice at a specific price. Explain the costs and benefits to farmers in good and bad harvest years
What will be an ideal response?
Suppose you have purchased a non-refundable plane ticket and, at the last moment, you cannot take the trip. You can, however, sell the ticket. If you paid $700 for the ticket, the cost of sending the ticket to someone through overnight mail is $20, and you spend $10 on a courier to get the ticket to the post office for overnight delivery, what is the minimum you should accept for the ticket?
a. $700 because that is what the ticket cost. b. $720 because that is the cost of the ticket and of getting it to the buyer. c. $730 because that is the total cost of the ticket and getting it to the buyer. d. More than $730, so that you can make a profit. e. $30 because the $700 is a sunk cost.
A production function is a relationship between inputs and
a. quantity of output. b. revenue. c. costs. d. profit.
The formula for the aggregate consumption function is [C = a + b(Y - T)] ________ the income-expenditure model.
A. after net exports are added to B. when consumption is left out of C. after government is subtracted from D. after government is added to