Salaries of employees under guaranteed contracts would be an example of a ________ cost.
Fill in the blank(s) with the appropriate word(s).
fixed
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The best alternative use of a resource is referred to as its:
A) sunk cost. B) market price. C) marginal utility. D) opportunity cost.
If all firms in a perfectly competitive industry are earning a normal profit, then:
A. existing firms will exit the industry. B. new firms will enter the industry. C. there is no incentive for firms to enter or exit the industry. D. the market supply curve will shift to the left.
Suppose the government issues bonds to finance an increase in government spending. In the bond market,
A) the demand curve shifts right, leading to an increase in bond prices, and a decrease in interest rates. B) the supply curve shifts right, leading to a decrease in bond prices, and an increase in interest rates. C) the demand curve shifts left, leading to a decrease in bond prices, and an increase in interest rates. D) the supply curve shifts left, leading to an increase in bond prices, and an increase in interest rates
Which of the following is included in U.S. GDP?
i. the rental value of homes owned by U.S. citizens ii. the production of Suburban SUVs by GM in its plant in Mexico iii. tickets sold by U2 for concerts held in the United States A) ii only B) ii and iii C) i, ii and iii D) i and iii E) i only