Which of the following is most likely to be a variable cost?
A. Fuel and power payments.
B. Interest on business loans.
C. Rental payments on IBM equipment.
D. Real estate taxes.
Answer: A
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Refer to Figure 2-14. Which country has a comparative advantage in the production of snow cones?
A) Greenland B) They have equal productive abilities. C) Iceland D) neither country
Economists define risk as
A) the difference between the interest rate borrowers pay and the interest rate lenders receive. B) the chance that the value of financial assets will change from what you expect. C) the ease with which an asset can be exchanged for other assets or for goods and services. D) the difference between the return on common stock and the return on corporate bonds.
According to behavioral economics, participants in a half-marathon are likely to have trained
a. more than they planned and run faster than they anticipated. b. more than they planned but run slower than they anticipated. c. less than they planned and run slower than they anticipated. d. less than they planned but run faster than they anticipated.
The Environmental Protection Agency was created in
A. the 1930s. B. the 1990s. C. the 1980s. D. the 1960s.