Juanita has just started a business and is using her personal car to deliver goods. The use of her car is an example of
A) an explicit cost to the business.
B) an implicit cost to the business.
C) financial capital.
D) interest.
B
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Of the three agencies that have been created to promote residential housing, the only one that is an entity of the U.S. government is
A) Fannie Mae. B) Ginnie Mae. C) Freddie Mac. D) Sallie Mae.
Which of the following statements is TRUE about the role that service exports and imports have in the balance of payments?
A) Service exports and imports are not included in the balance of payments because it is impossible to transport a service to another country. B) Service exports and imports are included in the balance of payments in the labor account. C) Service exports and imports are included in the balance of payments in the official reserve transactions account. D) Service exports and imports are included in the balance of payments in the current account.
The time it takes for a particular monetary policy to change income is called the _____
a. recognition lag b. data lag c. reaction lag d. effect lag e. action lag
According to the text, can we conclude that people will consume goods until the marginal utility of each good is zero?
A. No, because consumption is determined by total utility. B. No, because consumption is determined by the marginal utility/price ratio. C. Yes, because at that point marginal utility is minimum. D. Yes, because at that point total utility is maximum.