In many years, off-farm income at the national level is ________ than net farm income
Fill in the blank(s) with correct word
Greater
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Improved quality in health care services is partly responsible for increases in health care costs in the United States
Indicate whether the statement is true or false
Double markup problems arise when
a. upstream firms have no market power b. downstream firms have market power c. upstream and downstream products are unrelated in demand d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
Jennifer has just finished high school and is deciding whether to start working or go to college. She has already been offered a job that pays $35,000 a year. Four years of college will cost $12,000 each year. She would earn an extra $20,000 each year after she graduates for the 45 years she plans on working until she retires. Jennifer should invest in college when the net present value of that investment is ______ and the internal rate of return is ______ the current interest rate.
A. positive; greater than B. negative; greater than C. positive; less than D. negative; less than
For each watch Switzerland produces, it gives up the opportunity to produce 50 pounds of cheese. Germany can produce one watch at a cost of 100 pounds of cheese. Which of the following is true?
a. The opportunity cost of producing watches is lower in Switzerland. b. The opportunity cost of producing cheese is lower in Switzerland. c. The opportunity cost of producing watches is the same in both countries. d. It is impossible to compare costs because the two countries are not the same size. e. In Germany, the cost of a pound of cheese is one watch.