Which of the following is a fixed cost in a pizza restaurant?
a. rent
b. produce purchases
c. hourly labor charges
d. delivery expenses
a. rent
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The precautionary demand for holding money arises because
A) people want be able to make unexpected purchases or to meet emergencies. B) credit cards charge low interest rates, which makes money more attractive than credit. C) expected transactions are completed more easily with debit cards than with credit cards. D) people would rather hold money in the form of time deposits than in the form of hard currency.
The above figure shows the U.S. market for replacement cell phone batteries. Suppose the U.S. government imposes the tariff illustrated in the figure
The tariff is equal to ________, and the price U.S. consumers pay _______compared to the price paid when there was free trade. A) $2; increases B) $2; decreases C) $14; increases D) $14; decreases E) $12; increases
Say that initially the nominal interest rate is 6% and prices are stable, but the inflation rate the following year rises to 3%. If the real rate of interest is to remain unchanged, the nominal interest rate in the second year must:
a. rise by 9 percentage points. b. rise by 6 percentage points. c. rise by 3 percentage points. d. remain unchanged.
When the IMF provides loans to developing countries, it often requires these countries to adopt:
A. a contractionary fiscal policy and an expansionary monetary policy. B. contractionary monetary and fiscal policies. C. expansionary monetary and fiscal policies. D. a contractionary monetary policy and an expansionary fiscal policy.