College-age athletes who drop out of college to play professional sports
a. are not rational decision makers.
b. are well aware that their opportunity cost of attending college is very high.
c. are concerned more about present circumstances than their future.
d. underestimate the value of a college education.
b
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Answer the following statements true (T) or false (F)
1. In 2011, China overtook Mexico to become the number one country of origin of U.S. legal immigrants. 2. In 2007, immigrants made up a larger portion of the labor force in the U.S. than that in Canada. 3. The simple immigration model suggests that, for a high-wage country like the United States, immigration tends to reduce domestic output as well as the total income of businesses. 4. An increase in the mobility of labor across nations tends to decrease the world's output of goods and services.
Use the following graph to answer the next question.
What price will this pure monopoly charge?
A. $40 B. $45 C. $50 D. $35
Which of the following does not describe a characteristic of short-term economic fluctuations?
A. Expansions and recessions are irregular in length and severity. B. Durable-goods industries are less sensitive to short-term fluctuations than service and non-durable industries. C. Expansions and recessions are felt throughout the economy. D. The unemployment rate rises during recessions.
A mass-production bagel factory is considering the purchase of a flash freezer to improve the quality of the raw dough it provides supermarket bakeries
The freezer costs $750,000 and would increase business revenues by $48,000 a year after all expenses besides interest are paid. If the interest rate is 7.8 percent, what is the freezer's annual profit rate? A) 7.8 percent. B) 1.4 percent. C) -1.4 percent. D) 5.9 percent. E) -5.9 percent.