By 2030, the number of workers per Social Security beneficiary will be approximately
a. two.
b. three.
c. four.
d. six.
A
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The real exchange rate, q, is defined as
A) the price of the foreign basket in terms of the domestic one. B) the price of the domestic basket in terms of the foreign one. C) the price of the foreign basket. D) the price of the domestic basket. E) the nominal exchange rate in terms of the domestic basket.
In 2015, ZVX motors sold 17,241 units of their latest superbike, the ZVX-1200 . Each ZVX-1200 costs $9,763 to the company, and is sold at a price of $17,255 per unit. The total revenue earned by ZVX motors in 2015 is:
a. $297,493,455. b. $297,442,463. c. $168,323,883. d. $165,131,644.
A cost that is unavoidable regardless of the actions of a decision maker is called
A. a sunk cost. B. a marginal cost. C. an opportunity cost. D. an incremental cost.
According to the endowment effect, people are unwilling to sell a good they already own in which of the following situations?
a. if they are offered a price greater than the price they would pay if they did not already own the good b. if they are offered a price lower than the price they would have to pay to replace the good c. if they can't replace the good d. if the good was a gift that had great sentimental value