Sally leaves her $24,000 secretarial position with a company and invests her savings of $15,000 (on which she was earning 6 percent interest) in her own Ready Sec agency. After expenses, her net income was $28,900. Her economic profit was
A. $4,900.
B. $4,000.
C. $28,900.
D. ?$10,100.
Answer: B
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A. 600 million bushels B. 150 million bushels C. 900 million bushels D. 300 million bushels
Advocates of the New Growth Theory claim that they have improved upon the neoclassical model by
a. focusing on the rate of investment, rather than the amount of investment b. adding population growth to the list of key variables c. assuming that knowledge obtained in one country would be easily available to those in othercountries d. making technological change a part of the model, rather than something brought in from theoutside e. none of the above
Continuing with the same family from the preceding question, what is the greatest (integer) number of vacation days the family would be willing to give up in order to guarantee a healthy vacation?
a. 1 b. 2 c. 3 d. 4
Jaxon borrows $10,000 from a bank and withdraws $20,000 from his personal savings to open a tattoo parlor. The interest rate is 3 percent for both the bank loan and his personal savings. Jaxon also quit his job as a waiter, which paid $20,000 . According to an economist, Jaxon's opportunity cost of opening the tattoo parlor equals $20,900
a. True b. False Indicate whether the statement is true or false