John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the accompanying table.Time cleaning windows (hours/day)Total number of windows cleaned0017211314416517 If we plot John's opportunity cost per window on the vertical axis and the number of windows cleaned each day on the horizontal axis, we will have John's ________ curve for window-cleaning services.
A. supply
B. production possibilities
C. benefit
D. demand
Answer: A
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Answer the following statement(s) true (T) or false (F)
1. People have rational expectations when their predictions are correct more often than not. 2. Even when econometric equations predict very well, they can be entirely useless as guides to policy. 3. The standard deviation of a portfolio is exactly equal to the average standard deviations of the individual stocks. 4. A risk-averse individual always prefers the basket with the highest standard deviation when choosing among baskets with the same expected value. 5. Uninsurable risks is one reason why fair-odds insurance is not always available.
Refer to the figure above. Calculate the total surplus after the government imposes a tariff of $1 per unit
A) $160 B) $240 C) $300 D) $315
On June 2, 2017, Diamond Chemical Corporation’s 4.1 percent coupon bonds, with face values of $100, was sold for $95. This means that the yield on these bonds was
A. less than 4.1 percent. B. equal to 4.1 percent. C. equal to 95 percent of 4.1 percent. D. greater than 4.1 percent.
Profit is the:
A. sum of total revenue and total cost. B. total revenue minus total cost. C. total cost minus total revenue. D. None of these is true.