The belief that everyone should have exactly the same amount of income is
A) merit standard.
B) comparable-worth doctrine.
C) egalitarian principle.
D) Lorenz principle.
C
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An investment is profitable as long as its internal rate of return is equal to the rate of interest
Indicate whether the statement is true or false
An airline is considering adding a flight from Chicago to Sioux Falls. Revenue from the flight is expected to be $3,000. The total cost of the flight is $5,500, and the variable cost is $2,000. Should the airline add this flight?
A. No, the revenue ($3,000) is below the cost ($5,500). B. No, the addition to profit is very small and not worth the effort. C. Yes, profit increases by $1,000 ($3,000 ? $2,000). D. Yes, profit increases by $3,000.
The cost of capital is determined by
A) bankers. B) the capital market. C) the federal budget deficit. D) the foreign exchange market.
In January the price of dark chocolate candy bars was $2.00, and Willy's Chocolate Factory produced 80 pounds. In February the price of dark chocolate candy bars was $2.50, and Willy's produced 110 pounds. In March the price of dark chocolate candy bars was $3.00, and Willy's produced 140 pounds. The price elasticity of supply of Willy's dark chocolate candy bars was about
a. 0.70 when the price increased from $2.00 to $2.50 and 0.76 when the price increased from $2.50 to $3.00. b. 0.88 when the price increased from $2.00 to $2.50 and 1.08 when the price increased from $2.50 to $3.00. c. 1.42 when the price increased from $2.00 to $2.50 and 1.32 when the price increased from $2.50 to $3.00. d. 1.50 when the price increased from $2.00 to $2.50 and 1.18 when the price increased from $2.50 to $3.00.