In a shopping mall in a large city, the Rudolph the Reindeer store sells only merchandise for the Christmas holiday season. Most of the store's revenue and profit are attributable to the months of October, November, and December. However, the store is open throughout the year. If the owner of the store is rational, what criterion does he or she use in deciding to keep the store open year-round?
The owner has determined that total revenue exceeds variable cost during the months January through September.
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Marginal benefit equals the
A) benefit that a person receives from consuming another unit of a good. B) additional efficiency from producing another unit of a good. C) increase in profit from producing another unit of a good. D) cost of producing another unit of a good. E) total benefit from consuming all the units of the good or service.
According to the analysis in your text, the school voucher program would
A. increase the quality of education, but not improve the welfare of low income families. B. decrease the quality of education. C. increase the quality of education. D. not affect education quality, but would make lower income families better off.
If GDP growth were to increase, it would cause the labor:
A. demand curve to shift left. B. supply curve to shift right. C. demand curve to shift right. D. supply curve to shift left.
The total of all past government borrowing, minus government budget surpluses, is called the
A. fiscal cost. B. national cost. C. net debt load. D. public debt.