In 2015, the Educational Testing Service (ETS) charged $52.50 to take the Scholastic Aptitude Test (SAT) but $195 to take the Graduate Record Exam (GRE). One reason for this difference in price is
A) the GRE is a longer test with more questions.
B) more people took the SAT than the GRE in 2015.
C) an average, those who take the GRE have higher incomes than those who take the SAT.
D) the ETS faces competition in the market for the SAT but no competition for the GRE.
D
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The expected real cost to a firm of using an additional unit of capital during a period of time is the
A) user cost of capital. B) marginal product of capital. C) marginal cost of capital. D) opportunity cost of capital.
According to the 1860 census, the top employer in manufacturing was the _______ industry
a. boots and shoes b. cotton textile c. flour and meal d. iron
A tariff has one distinct advantage over a quota. It increases tax revenues to the government
a. True b. False Indicate whether the statement is true or false
Entrepreneurs
a. will prosper if they undertake projects that increase the value of the resources. b. are people who extend loans to other business decision makers. c. are managers who generally work for a salary because they are unwilling to take risks. d. will propser if they charge prices higher than their rivals.