Which of the following generation categories has the largest population in the United States in 2015?
A) the baby boomers B) generation X C) the centenarians D) the millennials
D
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Decentralized market-based financial systems improve the allocation of saving by:
A. eliminating the need for commercial banks or other financial intermediaries. B. ensuring capital gains exceed dividend payments. C. providing information and risk-sharing services. D. matching net capital inflows to net capital outflows.
Price elasticity of supply is represented as ____________________.
a. monetary currency b. a percentage c. a fraction d. a ratio
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 accounting profit this year equals:
A. $45,600. B. $51,400. C. $39,000. D. $44,800.
Government intervention in the market
A. Always involves an opportunity cost. B. Results in the free-rider dilemma. C. Does not involve an opportunity cost if market outcomes are improved. D. Never involves an opportunity cost because only market activities result in other goods and services being given up.