Which is the most accurate statement?
A. There is basically no real difference between shutting down and going out of business.
B. One big difference between shutting down and going out of business is that after you've shut down you're still paying bills, but when you've gone out of business, there are no more bills to pay.
C. When you shut down you must still pay your variable costs, but when you go out of business you have no costs at all.
D. Shutting down is a long run option, while going out of business is a short run option.
B. One big difference between shutting down and going out of business is that after you've shut down you're still paying bills, but when you've gone out of business, there are no more bills to pay.
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One reason why the average salary of Major League Baseball players is higher than the average salary of college professors is
A) competition among baseball club owners forces player salaries to be much higher than the players' marginal revenue products. B) the marginal revenue product of baseball players is greater than the marginal revenue product of college professors. C) the careers of most baseball players are much shorter than the careers of most college professors. D) college professors accept lower salaries in exchange for better working conditions.
Quantitative evidence on federal land policy has led current economic historians to conclude that
a. the policy was inefficient and reduced total output. b. the policy was largely inefficient, with evidence of increased output only found on large farms. c. the Homestead Act allowed western farmers to enjoy rising agricultural prices for most of the post-bellum period. d. average rates of return on western agricultural investments were comparable to those in manufacturing.
Wheat produced in the U.S. but sold in Japan would not be included while calculating the U.S. GDP
a. True b. False Indicate whether the statement is true or false
Assume Jean-Claude purchased real estate for $500,000 using $50,000 of which is his own money and $450,000 which he borrowed at an 8% interest rate. If the value increased by 10% in one year and he sold the property, what was Joe's rate of return on his investment? If the value of the property had declined by 2%, what would have been the rate of return on his investment?