Tara, a pharmacist, is planning on opening her own pharmacy. Tara currently earns $50,000 a year at her job. She has calculated that it will cost her $6,000 in rent and utilities and $25,000 for an assistant per year to run her pharmacy
What is the amount of opportunity cost that Tara incurs in running her own pharmacy? A) $31,000
B) $25,000
C) $50,000
D) $81,000
D
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The monetary policy (MP) curve indicates the relationship between
A) the Federal Funds Rate and the real interest rate. B) the Federal Funds Rate and the inflation rate. C) the inflation rate and the expected inflation rate. D) the real interest rate the central bank sets and the inflation rate.
L-shaped isoquants imply that production requires that the inputs
A) are perfect substitutes. B) are imperfect substitutes. C) cannot be used together. D) must be used together in a certain proportion.
Policies that reduce the incentive for households to save include
a. means-testing. b. College and university financial aid administration. c. inheritance taxes. d. All of the above.
Refer to the information provided in Figure 1.4 below to answer the question(s) that follow.
Figure 1.4Refer to Figure 1.4. Panel C shows a curve which has a slope that is
A. zero throughout. B. first positive and then negative. C. first negative and then positive. D. infinite throughout.