Which of the following is NOT a private cost?
A) the health insurance costs a firm must pay for its employees
B) the pollution caused by a firm dumping its wastes into the river
C) the coffee pot that Jan dropped and broke this morning
D) the amount that a firm must pay for raw materials to make its product
Answer: B
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Higher rates of employment and substantial per capital output gains seem to occur when the real economic growth rate
a. is less than 1 percent. b. is less than 2 percent. c. exceeds 3 percent. d. is between 1.5 and 2 percent.
The demand curve facing a firm
a. indicates the quantity of output that customers will purchase from that firm, at various prices b. shows the minimum cost of producing any level of output c. is drawn assuming that the firm is operating in the short run d. indicates how much output a profit-maximizing firm will produce, at various prices e. is downward sloping because consumers have less money to spend, the more output they purchase
Suppliers will provide more of a good when
A. there is a decrease in demand. B. the good is a normal good. C. the market price increases. D. resource prices increase.
Assuming a market rate of interest equal to 7 percent and anticipated inflation is 2 percent, what is the real (adjusted for inflation) present value of $200 to be received one year from today?
A. $187 B. $210 C. $190 D. $214