Property rights allowing individuals to own goods, services, and factors of production are most important in:
a. socialistic economies. b. planned economies.
c. capitalistic economies. d. command economies.
c
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Consumption of fixed capital (depreciation) can be determined by ________.
A. subtracting net investment from real GDP B. subtracting depreciation from net investment C. adding net investment to real GDP D. subtracting net investment from gross investment
A tanning salon offers its clients package pricing of 5 sessions for $35, 10 sessions for $50, 15 sessions for $60, or 20 sessions for $100? Which pricing package has the lowest average cost?
a. 5 sessions for $35 b. 10 sessions for $50 c. 15 sessions for $60 d. 20 sessions for $100
Asymmetric information poses two important obstacles to the smooth flow of funds from savers to investors. They are:
A. adverse selection and moral hazard, both of which occur after the transaction. B. moral hazard, which arises before the transaction occurs, and adverse selection, which occurs after the transaction. C. adverse selection, which arises before the transaction occurs, and moral hazard, which occurs after the transaction. D. adverse selection and moral hazard, both of which occur before the transaction.
A firm's rent is a fixed cost. If the rent increases, then in the figure above ________ upward
A) only curve A shifts B) only curve B shifts C) only curve C shifts D) both curves A and C shift E) both curves B and C shift