De minimis risk
a. is the goal required by law under President Reagan’s Executive Order 12291
b. is applicable only to voluntary risk
c. is a negligible level of risk such that reducing it further would not be cost justified
d. is identical to a zero-risk standard
c. is a negligible level of risk such that reducing it further would not be cost justified
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Use the following information to answer the next question.Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10% interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 each. Of the $75, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The explicit costs of Harvey's firm in the first year were
A. $655,000. B. $605,000. C. $825,000. D. $150,000.
Marginal cost is the minimum price that producers must receive to induce them to produce another unit of a good or service
Indicate whether the statement is true or false
What are the effects of an expansionary fiscal policy on interest rates and output in an open economy with floating exchange rates?
What will be an ideal response?
If pretzels are a normal good, the income effect of a price change means that
a. as income increases, the quantity demanded increases along the demand curve for pretzels b. as income increases, the demand curve for pretzels shifts rightward c. as income increases, the demand curve for pretzels shifts leftward d. as the price of pretzels increases, the real income of individuals who demand pretzels decreases, so the quantity demanded of pretzels decreases e. as the price of pretzels increases, income increases