Which of the following is NOT a characteristic that makes information useful?
a. It is reliable
b. It is timely.
c. It is inexpensive.
d. It is relevant.a
Answer: c. it is inexpensive
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If the market price is $50 per unit for a good produced in a perfectly competitive market and the firm's average total cost is $52, then the firm
A) incurs an economic loss of $2 per unit. B) makes an economic profit of $2 per unit. C) makes zero economic profit. D) incurs a total economic loss of $52. E) More information is needed to determine the firm's economic profit or loss per unit.
If a bank grants you a mortgage, the mortgage is
A) an asset to you as well as an asset to the bank. B) an asset to you, but a liability to the bank. C) a liability to you, but an asset to the bank. D) a liability to you as well as a liability to the bank.
An individual labor-supply curve represents:
A. a worker's decisions around how many hours to work at each alternative wage. B. the decisions of all workers around how many hours to work at each alternative wage. C. a firm's decisions around how many hours to hire at each alternative wage. D. the decisions of all firms around how many hours to work at each alternative wage.
Suppose the interest rate is 8%. If a project requires an initial investment of $5,000 and returns $5,500 in a year, what is its internal rate of return?
A. 2% B. 8% C. 10% D. 18%