The federal debt is ____________ and the federal deficit is ______________.
A. the cumulative total of what the federal government owes; the amount the federal government overspent in a given year
B. the amount the federal government overspent in a year; the cumulative total of what the federal government owes
C. the total of what is projected to be spent in a given year; the total of what is projected to be earned in revenues in a given year
D. None of these statements is true.
A. the cumulative total of what the federal government owes; the amount the federal government overspent in a given year
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If a car salesman is paid a commission on the sale value of the car, the owner is most likely to see
a. Large margins on sales b. Low margins on sales c. No sales d. None of the above
Twenty years ago, Dr. Montgomery borrowed money from her parents to pay her tuition at graduate school. Now she wants to pay them back. She gives them double what they gave her. According to the rule of 70, what interest rate would have given her parents the same amount of money if they had put it in the bank rather than lending it to their daughter?
a. 3.5 percent b. 4.5 percent c. 5 percent d. 7 percent
A dependent variable is also known as a(n) _____.
A. explanatory variable B. control variable C. predictor variable D. response variable
Many tout that the Internet has lowered consumers' search costs. If this is true, ceteris parabis, the consumer reservation price should:
A. remain the same. B. be higher. C. be lower. D. There is insufficient information to determine the impact of lower search costs on reservation prices.