Very Technical is a firm that sells computing equipment. It costs Very Technical $50 for each order of computer monitors and the variable cost of placing an order is $2 per monitor. Very Technical pays an annual holding cost of $6 per monitor. If Very Technical sells 1,000 computer monitors a year and they order 25 monitors, what is the total annual cost of the monitors?
A) $7,250
B) $4,075
C) $3,150
D) $5,025
B) $4,075
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Economic profit is the difference between total revenue and
A) the normal profit. B) interest costs of production. C) opportunity costs of production. D) the costs of resources bought in markets.
Critics of the World Bank's analysis of East Asian industrial policies argue that
A) even though growth was faster in the non-targeted industries than it was in the targeted ones, the policies were essential to overall economic growth. B) growth was faster in nearly every targeted industries than it was in the non-targeted ones. C) even though growth was the same in the targeted industries as it was in the non-targeted ones, they would have grown slower without the policies. D) growth was slower in the targeted industries; hence the policies did not work. E) measurements of economic growth are invalid and cannot be used to make comparisons between industries.
Other things being equal, a decrease in the workplace amenities, such as decreased health care and less generous vacation options, would tend to shift the labor supply curve to the ____, thereby causing the market wages to ____
a. right; fall b. right; increase c. left; fall d. left; rise
Suppose the economy of Catalania is experiencing a recession and policy makers decide to implement an expansionary monetary policy. It takes more than a year to implement the recommended policy measures. This is an example of a(n): a. liquidity trap
b. wage-price spiral. c. administrative lag. d. operational lag.