Which of the following is a microeconomic topic?
A. i. K-Mart's decision to close stores that are not making a profit
B. ii. Home Depot's choice to hire more full-time employees because its sales increased
C. iii. Delta Airlines changes its fares.
D. i, ii, and iii
Answer: D. i, ii, and iii
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Fred purchases a bond, newly issued by the Big Time Corporation, for $10,000. The bond pays $400 to its holder at the end of the first, second, and third years and pays $10,400 upon its maturity at the end of four years. The principal amount of this bond is ________, the coupon rate is ________, and the term of this bond is ________.
A. $10,000; 4%; four years B. $10,000; $400; 4% C. $400; 40%; four years D. $10,400; 4%; four years
If unit costs increase as the quantity of production increases and all inputs are variable, then a firm is experiencing
A) constant returns to scale. B) economies of scale. C) diseconomies of scale. D) falling economies of scope.
Ted moves into his first apartment. He buys a barely used washer/dryer set from Craigslist and hires a company to pick it up and deliver it to his apartment. What about this transaction will be counted in GDP?
A. The value of the delivery service B. The value of the washer/dryer set and the delivery service C. Nothing about this transaction will count toward GDP D. The value of the washer/dryer set
Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of combsOpportunity Cost(Foregone brushes)Number of brushesOpportunity Cost (Foregone combs)J4 0NAK3 10 L2 17 M1 21 N0NA23 On the basis of Table 1.3, in the production range of 21 to 23 brushes the opportunity cost of producing one more comb in terms of brushes is
A. 4. B. 1/21. C. 1/2. D. 21/23.