Industries with an HHI of under 1,000 are considered unconcentrated, and any proposed merger would go unchallenged by the Justice Department.
Answer the following statement true (T) or false (F)
True
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Professor Rush decided to quit teaching economics and opens a shoe store out at the mall. He gave up an annual income of $50,000 to open the store. A year after opening the shoe store, the total revenue for the year was $200,000
Rush's expenses were $30,000 for labor, rent was $18,000, and utilities were $1,200. He also had to purchase new shoes from manufacturers, at a cost of $60,000, which was financed by cashing in his savings of $60,000 that had been in a bank earning 8 percent per year. The normal profit from operating a shoe store in the mall is $20,000. Determine Professor Rush's explicit costs, implicit costs, and economic profit.
The discount rate refers to the interest rate on
A) primary credit. B) secondary credit. C) seasonal credit. D) federal funds.
Within a fixed exchange rate system, the effect of an expansionary fiscal policy action on the balance of payments will be to
a. worsen the balance on the capital account but improve the trade balance. b. worsen the trade balance but improve the balance on the capital account. c. worsen both the trade balance and the balance on the capital account. d. improve both the trade balance and the balance on the capital account.
In a closed economy, Y - C - G equals _____. The variable Y is _____, C is _____, and G is _____
Fill in the blank(s) with correct word