Author A accepts a $5,000 advance and a 10% royalty after 5,000 books are sold. Author B foregoes the advance and negotiates for a 15% royalty on all books sold. Author C decides to self publish his book and keep 50% of all sales revenue. Which of these authors is most likely to have 10 books published?
A) Author A
B) Author B
C) Author C
D) They are all equally likely.
C
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The demand for a necessity generally is
A) very elastic. B) infinitely elastic. C) unaffected by income. D) inelastic. E) unit elastic.
A minimum wage set above the equilibrium wage rate is a price
A) ceiling that results in a shortage of low-skilled labor. B) ceiling that results in a surplus of low-skilled labor. C) floor that results in a shortage of low-skilled labor. D) floor that results in a surplus of low-skilled labor.
Suppose Trust Bank has $500 million in assets and $400 million in liabilities. The Fed purchases $45 million in bonds from the bank. Which of the following is a likely consequence of the Fed's action?
a. An increase in the bond holdings of Trust Bank by $45 million and a decrease in the bank's reserves by $45 million b. A decrease in both the bond holdings and reserves of Trust Bank by $45 million c. An increase in both the bond holdings and reserves of Trust Bank by $45 million d. A decrease in the bond holdings of Trust Bank by $45 million and an increase in the bank's reserves by $45 million
Keynesians believe that Select one
a. aggregate demand changes tend to induce aggregate supply changes, offsetting any effect from changes in government expenditures. b. money wage rate adjustments will quickly eliminate unemployment. c. the economy will normally operate at full employment. d. change in business confidence can affect the amount of investment in the economy.