Which of the following is not included in the U.S. balance of payments?
a. Gifts from parents residing in foreign countries and paid to students studying at U.S. colleges and universities.
b. U.S. government military gifts to foreign governments.
c. U.S. aid to Indonesian tsunami victims.
d. U.S. corporate gifts to families in foreign nations who were harmed by hurricanes.
e. All of the above are included in the balance of payments.
.E
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Suppose the price elasticity of demand of for soy beans is 0.85. When the price of soybeans rises by 20 percent, the quantity demanded of soybeans falls by approximately _____________ percent
A) 0.024 B) 26.67 C) 23.53 D) 17.00
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. Should you go to the concert instead of working Saturday?
A. Yes, the benefit of going to the concert is more than the cost. B. No, because there are no benefits of going to the concert. C. No, the benefit of going to the concert is less than the cost. D. Yes, the benefit of going to the concert is equal to the cost.
An increase in the marginal cost arising from a more complex specialized investment environment will cause the optimal contract length to:
A. increase. B. decrease. C. either increase or decrease. D. remain constant.
Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $5 and the wage rate is $37.50 per day, how many workers should Winnie employ to maximize his profit?
A) 2 B) 3 C) 4 D) 5