If a firm traded on the New York Stock Exchange posts an accounting profit of $10 million, then the firm is making a positive economic profit
A) only if the Securities and Exchange Commission (SEC) approves the accounting report.
B) only if the firm's opportunity cost is less than $10 million.
C) only if the firm's opportunity benefit is more than $10 million.
D) only if the firm's management receives stock compensation.
B
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The key point about a TIT for TAT strategy is _____
a. it is confusing to others b. it leads to sub-optimal outcomes c. that over time it encourage cooperation d. that it leads to a one time victory
If the shoplifter knows that the security guard has a reputation for sleeping on the job, what would his best response be
a. Steal b. Not steal c. Run d. Hide
The marginal propensity to consume (MPC) is equal to the inverse of the marginal propensity to save (MPS)
a. True b. False Indicate whether the statement is true or false
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $18,000 owe?