Individuals who lease a new car
A) have a higher discount rate than those who buy.
B) have a lower discount rate than those who buy.
C) have the same discount rate as those who buy.
D) behave irrationally and are taken advantage of by car companies.
A
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At Nick's Bakery, the cost to make a cheese danish is $1.50 per danish. As a result of selling ten danishes, Nick experiences a producer surplus in the amount of $20 . Nick must be selling his danishes for
a. $2.00 each. b. $0.50 each. c. $3.50 each. d. $5.00 each.
An asset is best able to serve as a medium of exchange if it is:
A. nonliquid. B. a store of value. C. liquid. D. not a store of value.
The costs associated with reaching and enforcing agreements are called
A) private property costs. B) common property costs. C) transaction costs. D) public costs.
If the marginal tax rate equals the average tax rate, the tax would be
A. proportional. B. regressive. C. progressive. D. uniform.