The profit earned from selling an asset for more than you paid for it is called
a. capital gains.
b. the real interest rate.
c. depreciation.
d. appreciation.
a
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Based on the data in Table 3.1, if Jesse and April choose to specialize and trade, then
A) April will specialize in painting snowboards and trade snowboards for kites. B) Jesse will specialize in painting snowboards and trade snowboards for kites. C) April will specialize in painting kites and trade kites for snowboards. D) None of the above; specialization and trade are not beneficial for Jesse and April.
When the market for gasoline in Motorland is in equilibrium, the market price of gasoline is ________ the marginal social cost
A) $1.50 above B) $1.50 below C) equal to D) $1.20 above
If the marginal tax rate is less than the average tax rate, the tax system is
A) progressive. B) proportional. C) regressive. D) liberal.
If a firm is operating at a loss in the short run and finds that its price is greater than average variable cost, then in the short run:
a. it should produce where MR = MC. b. it should produce zero output. c. it should go out of business. d. total revenue is less than total variable costs. e. total revenue is greater than total costs.