April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She started her own landscaping business. She rents machines and tools for $50,000 and pays $10,000 as wages to her hel
A) Her accountant calculates her profit as $40,000.
B) She has an economic loss.
C) Her explicit cost is $105,000.
D) Both answers A and B are correct.
E) Both answers A and C are correct.
D
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What is the chain-weighted price index for GDP in the base year?
A) 0 B) 1 C) 100 D) The answer depends on the price index for the current year.
What phrase best describes medical care spending in the United States in 1998?
a. Total spending of more than $2 trillion represents 17 percent of GDP and approximately $8,000 per capita. b. Total spending of more than $1 trillion represents 14.8 percent of GDP and almost $6,000 per capita. c. Total spending of less than $1 trillion represents less than 13 percent of GDP and almost $3,000 per capita. d. Total spending is rising at double-digit rates and spending is soaring to over $5,000 per capita. e. Total spending is under control and represents a shrinking percentage of GDP.
A shift of the demand curve for a good occurs whenever new technologies make inputs used in producing that good available at lower prices.
Answer the following statement true (T) or false (F)
A 91-day $10,000 Treasury bill is selling for $9,000. The bill's coupon equivalent yield is __________ percent
A) 3.96 B) 4.46 C) 8.02 D) 10.0