Mary wants to open her own taco stand. Which of the following will probably happen?
a. She will start up her business in a year because she has to wait to get government approval.
b. She will start up her business in a month because of low cost and ease of entry.
c. She will take six months to start her business because of all the government certificates she has to get.
d. She will take three months to start her business because she has to borrow to pay start-up fees.
b. She will start up her business in a month because of low cost and ease of entry.
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The difference between a savings deposit and a time deposit is
A) time deposits pay no interest. B) savings deposits pay no interest. C) time deposits have specified maturities. D) savings deposits have specified maturities.
Reaching a Nash equilibrium means that:
A. the outcome will be positive-positive. B. a cooperative equilibrium has been reached. C. the players have reached a stable outcome where neither would wish to change his strategy once he finds out what the other player is doing. D. the players have failed to reach a stable outcome because one player will always wish to change his strategy once he finds out what the other player is doing.
If the tax on a good is tripled, the deadweight loss of the tax
a. remains constant. b. triples. c. increases by a factor of 9. d. increases by a factor of 12.
A U.S.-owned automobile factory uses $50 million worth of materials produced in the U.S. and $10 million worth of material purchased from foreign countries to produce $100 million of automobiles. $70 million worth of these automobiles are purchased by
U.S. consumers, $25 million are sold in foreign countries, and $5 million are added to inventory. How much of this production is included in U.S. GDP? By how much do these transactions alone affect U.S. net exports?