When you purchase a new pair of jeans you do so in the
A) factor market.
B) input market.
C) product market.
D) resource market.
Answer: C
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As more people started using fax machines, fax machines became more valuable to individual users. This is an example of a(n) ________
A) moral hazard B) adverse selection C) network externality D) negative externality
A business incurs the following costs per unit: Labor $125/unit; Materials $45/unit and rent $250,000/month. If the firm produces 1,000,000 units a month, the total fixed costs equal
a. $250,000 b. $50,000 c. $20,500 d. $30,000
Sam quits his job as an airline pilot and opens his own pilot training school. He was earning $40,000 as a pilot. He withdraws $10,000 from his savings where he was earning 6 percent interest and uses the money in his new business. He uses a building he owns as a hanger and could rent it out for $5,000 per year. He rents a computer for $1,200, buys office supplies for $500, rents an airplane for
$6,000 . pays $1,300 for fuel and maintenance, and hires one worker for $30,000 . Sam's total revenue from pilot training classes this year equaled $90,400 . Sam's explicit costs this year equals: a. $84,400. b. $39,000. c. $55,000. d. $45,600. e. $40,000.
________ were the main sources of mortgage loans in the United States between 2000 and 2009?
A. Mortgage-backed securities B. Credit card receivables C. Covered bonds D. Loans from credit unions