A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building that he owns and currently rents to his brother for $6,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What are his explicit costs?
a. $26,000
b. $66,000
c. $78,000
d. $52,000
e. $72,000
D
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A consumer expenditure survey reports the following information on entertainment spending: 20082009 PriceQuantityPriceQuantityMovies$75$87Concerts$302$352CDs$167$1510 Using 2008 as the base year, by how much does a "cost of entertainment" index increase between 2008 and 2009?
A. 13.4 percent B. 8.6 percent C. 3.9 percent D. 29.4 percent
The face value of a bond is:
a. the amount of the coupon that is paid at equal intervals. b. the amount repaid to the lender on maturity. c. the percentage of company profits that is paid to the borrower. d. equivalent to the capital gain. e. equivalent to economic profit.
Basic research seeks to answer particular questions or to apply scientific discoveries to new product development
Indicate whether the statement is true or false
In the United States, controlling inflation is the primary job of ______.
a. the Department of Labor b. the Federal Reserve System c. Congress d. the Bureau of Labor Statistics