Estimates of the value of a college education are based on
A. present value.
B. enumerated costs and benefits.
C. plausible deniability.
D. actual costs and benefits.
Answer: A
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A constant-elasticity demand function can be obtained by:
A) taking the logarithm of the dependent variable only. B) taking the logarithm of the independent variable(s) only. C) taking the logarithm of the dependent and independent variable(s). D) taking the reciprocal of the dependent variable(s).
The ways to address agency costs include all EXCEPT
a. advertising for employee positions in as many outlets as possible b. requiring employees to punch time clocks c. spot checks of the quality of employee work d. replacing closed offices with cubical office spaces
Which of the following is the most accurate example of the working of the free market?
a. A government agency orders increased production of wheat bread. b. A CEO increases the production of various sport cars based on the demand for these cars in several small towns. c. The soaring demand of millions of consumers causes numerous companies to increase the supply of HD televisions. d. The increased demand for Choco Bars by people older than 80 causes the manufacturer to increase production slightly.
A government agency is having problems with personal telephone calls made during working hours. Because each minute of a personal call costs the agency $0.50 in wasted wages, it has decided to hire operators to monitor calls. The agency wants to hire the number of operators that will minimize the total cost of personal calls. 
Based on the above information, what is the most the agency would be willing to pay the fifth operator?
A. $100 B. $400 C. $200 D. $500 E. none of the above