Which of the following are implicit costs for a typical firm?
A) the cost of labor
B) the cost of energy used in production
C) the opportunity cost of capital owned and used by the firm
D) a business licensing fee
C
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When a nation is said to be running a balance of payments surplus, this means its
A) official settlements balance is positive. B) trade balance is positive. C) net financial account balance is positive. D) current account is positive.
You own stock worth an estimated $1 million in the LPL corporation. In addition, you have personal assets worth another $2 million. LPL becomes insolvent, with debts exceeding assets by $15 million. Your personal wealth will decline by
a. $0 b. $1 million c. $1.5 million d. $3 million e. your proportion of the total outstanding stock shares times $15 million
In response to the deep economic downturn in the US in 2008 and 2009, the US
a. reduced taxes. b. increased government spending. c. increased the supply of money. d. All of the above are correct.
If the government allowed a free market in organs for transplant there would be
a. a decrease in the shortage of organs for transplant. b. a decrease in producer surplus. c. an decrease in consumer surplus d. an increase in the waiting period for transplant organs.