Accountants and Economists differ in their calculations of profits in that;
a. economists consider sunk costs
b. accountants consider implicit costs only
c. accountants consider explicit costs only
d. all of the above
c
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Mixed bundling is
a. Where customers pay for each item separately b. Where customers buy all item in a store at one price c. Where customers have a choice of buying each item separately or all items at one price d. Where customers are charged one fixed fee and a cost per unit for every unit bought
Assume an Australian importer expects to pay 16,000 Australian dollars (AUD) for $8,000 worth of U.S. goods, but on the shipment date 30 days later, the same volume of U.S. goods costs the Australian importer only 10,000 Australian dollars. This means that between the contract date and the payment date, the exchange rate has changed:
a. from $1 = 1.25 AUD to $1 = 2.0 AUD. b. from $1 = 2.0 AUD to $1 = 1.25 AUD. c. from $1 = 0.8 AUD to $1 = 0.5 AUD. d. from $1 = 0.5 AUD to $1 = 0.8 AUD. e. from $1 = 0.5 AUD to $1 = 2.0 AUD.
Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 270. What does this "270" mean?
a. What cost $100 in 1982 on average cost 270 times as much in 2019. b. What cost $100 in 1982 on average cost $270 in 2019. c. What cost $100 in 1982 on average cost 0.27 times as much in 2019. d. What cost $100 in 1982 on average cost $27 more in 2019
The Federal Reserve System was created in response to
A) the stock market crash of 1929. B) the ending of the Civil War. C) the banking panic of 1907. D) difficulties of the free-banking era.