The interest rate charged by the Fed to member banks is called the _____
Fill in the blank(s) with correct word
discount rate
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Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs. The shop earns $600,000 in revenues and has $1.1 million in net worth. Based on this information, what is economic profit for Tommy's Teddy Bears?
A) $250,000 B) $300,000 C) $500,000 D) $1.35 million
After tickets for a major sporting event are purchased at the official box office price, a market often develops whereby these tickets sell at prices well above the official box office price
Which of the following scenarios would NOT be able to explain this result? A) The official price was below equilibrium from the moment the tickets were available. B) Increased publicity causes the demand curve for the event to shift rightward. C) The event was not a sellout. D) Not everyone who wanted a ticket was able to buy one at the box office.
In summary, many of the government's farm programs are an attempt to shift the
a. demand curve for farm goods to the right b. demand curve for farm goods to the left c. supply curve for farm goods to the left d. supply curve for farm goods to the right e. supply and demand curves for farm goods to the right
Which term refers to the share of an activity's marginal cost that is paid for by people other than those who carry out the activity?
a. Beneficial cost b. Incidental cost c. Marginal private cost d. Marginal social cost