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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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
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?