The Coffee Nook, a small cafe near campus, sells cappuccinos for $2.50 and Russian tea cakes for $1.00 each. What is the opportunity cost of buying a Russian tea cake?
A) $2.50 B) $1.00
C) 2 1/2 cappuccinos D) 2/5 of a cappuccino
D
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Pat earns $1,000 per week and spends $850 per week on living expenses, puts $50 in a savings account, and buys $100 worth of shares in a stock mutual fund. Pat's saving is ________, and Pat's saving rate is ________.
A. $150; 15% B. $50; 5.9% C. $50; 5.0% D. $100; 10%
The table above shows the demand and total cost schedule for a monopolist hotel. What is the marginal revenue from renting out the fifth room each night?
A) $111 B) $141 C) $151 D) $161
________ consumption is consumption that does not depend upon the level of GDP
A) Disposable B) Voluntary C) Induced D) Autonomous
Futures contract prices are established
A) through an auction process in the "pit" on the exchange floor. B) through brokers. C) through an over-the-counter network of futures dealers. D) through specialists on the stock and bond exchanges.