Your school offers college seniors one "free" college course. Is this course also free to society?
A. Yes, because the school has satisfied the assumption of making a rational choice.
B. No, because some students will not take a free class seriously and will ultimately become less productive workers.
C. No, because if a college-senior takes the last seat in the class, t then a paying student will not have the opportunity to take it.
D. Yes, because the seniors live in society.
Answer: C
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Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs. The shop earns $600,000 in revenues and has $1.1 million in net worth. Based on this information, what is accounting profit for Tommy's Teddy Bears?
A) $250,000 B) $300,000 C) $500,000 D) $1.35 million
The Coinage Act of 1792 set the relative values of silver and gold coins at 15 to 1 . Suppose the relative market values of silver and gold had equaled 16 to 1 . In this case,
a. only gold would circulate as money. b. gold would be hoarded and sold abroad. c. gold would be overvalued at the mint. d. individuals would profit by selling gold to the mint.
If GDP grows at a rate of 3% per year, approximately how long will it take for GDP to double in size?
A) 12 years B) 21 years C) 23 years D) 35 years
Always Round Tire has service stores in many parts of the United States. The stores in Tennessee have petitioned for independent local store managers. The managers claim that since Memphis, Nashville, and Knoxville are hundreds of miles apart, each manager is really in a separate market and needs to deal with local marketing, sales, and pricing issues independently. What issues would need to be considered before giving these local managers the authority that they are requesting?
What will be an ideal response?