Polly estimates that if she spends another $10,000 to upgrade the computer equipment at her tax preparation company, the number of tax returns she can handle will increase from 200 to 280 . She charges an average of $50 to do each tax return. The MRP per dollar of this $10,000 upgrade is
a. $10,000
b. 25 percent
c. $4,000
d. 100 percent
e. 40 percent
E
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The "store of value" function of money means it is the:
a. Asset individuals get for goods and services and then use later to purchase other goods and services. b. Barter value of a product for which a nation has a comparative advantage. c. The unit in terms of which people write contracts. d. Asset people can use to accumulate wealth. e. Unit in terms of which everything is valued and the basis for establishing relative prices between goods and services.
If stock prices follow a random walk, then stock investors can make large profits by
a. buying stocks whose prices have been falling for several days. b. buying stocks whose prices have been rising for several days. c. performing fundamental analysis of stocks using data contained in annual reports. d. using inside information.
FOMC stands for:
A. Federal Open Market Committee. B. Federation of Open Monies Committee. C. Fixed Open Market Commitments. D. Federal Open Money Committee.
A monopoly's supply curve is the portion of the firm's marginal cost curve that lies above the average variable cost curve.
Answer the following statement true (T) or false (F)