Campbell recently began running his brother's lumber mill. Last month he took in $10,000 in sales revenue and paid $6,800 in out-of-pocket costs. He made an economic profit last month if his implicit costs were:
a. $2000.
b. $3200.
c. $4800.
d. $6600.
a
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If a nation changes its laws to more actively enforce intellectual property rights, all of the following will most likely take place except
A) more film makers will choose to do business in that country. B) more software companies will choose to export their products to that country. C) foreign investment in that country will increase. D) the black market for intellectual property will become more prosperous in that country.
Which of the following would reduce the problem of the poverty trap while still providing financial help to those who need it and assisting them to phase into being self-supporting?
a. Government assistance increased by more than $1 for every $1 earned. b. Government assistance increased by less than $1 for every $1 earned. c. Government assistance reduced by more than $1 for every $1 earned. d. Government assistance reduced by less than $1 for every $1 earned.
Which of the following is the most accurate statement about real and nominal interest rates?
a. Real interest rates can be either positive or negative, but nominal interest rates must be positive. b. Real interest rates and nominal interest rates must be positive. c. Real interest rates must be positive, but nominal interest rates can be either positive or negative. d. Real interest rates and nominal interest rates can be either positive or negative.
If the price of Pepsi decreases, other factors constant, then we'd expect to see a consequent shift of the demand curve for:
A. Coke to the left B. Coke to the right C. Pepsi to the left D. Pepsi to the right