Which of the following is the largest single component of the market basket used to compute the consumer price index (CPI)?
a. Food and beverages.
b. Housing
c. Transportation.
d. Medical care.
b
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Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her economic profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000
A primary criticism of preferential tax treatment of dividends and capital gains is:
A) there is not a double taxation of dividends B) it adversely affects the distribution of after-tax income C) there is no locked-in effect resulting from taxation of capital gains D) it does not have any impact on efficiency
Speculators are primarily interested in
A) betting on anticipated changes in prices. B) reducing their exposure to the risk of price fluctuations. C) increasing market liquidity. D) reducing the spread between bid and ask prices on bonds.
Rents can be derived from any factor used in production
Indicate whether the statement is true or false