Smith sends her children to a private school on the other side of town. Tuition per student per year is $15,000. Jones sends her children to a public school on her side of town. Tuition per student per year is $0. Most people seem to think that the private school and public school are equivalent when it comes to educating students. According to a theory discussed in the textbook,
A) Smith lives in a more expensive home than Jones.
B) Jones lives in a more expensive home than Smith.
C) Smith and Jones live in homes that are priced the same.
D) Smith lives in a larger home than Jones.
E) none of the above
E
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Use the following figure to answer the question below.
The combination of zero pounds of corn and eighty pounds of green beans is
A. efficient. B. not attainable. C. inefficient. D. local.
One timing problem in using fiscal policy to counter a recession is the "legislative lag" that occurs between the
A. time the need for the fiscal action is recognized and the time that the action is taken. B. time fiscal action is taken and the time that the action has its effect on the economy. C. start of the recession and the time it takes to recognize that the recession has started. D. start of a predicted recession and the actual start of the recession.
In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
a. one minus the variable cost ratio b. contribution margin per unit c. selling price per unit d. standard deviation of unit sales e. none of the above
Stealth bank has deposits of $700 million. It holds reserves of $20 million and has purchased government bonds worth $350 million. The bank's loans, if sold at current market value, would be worth $600 million. What does Stealth bank’s net worth equal?
a. $120 million b. $270 million c. $1.02 billion d. $970 million