Which of the following pair of terms is similar?
A) Overhead and direct cost.
B) Direct cost and fixed cost.
C) Overhead and fixed cost.
D) Overhead and variable cost.
C
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The provision of the Patient Protection and Affordable Care Act (ACA) which states that, with limited exceptions, every resident of the United States must have health insurance that meets certain basic requirements is the ________ provision
A) regulation of health insurance B) state health insurance marketplaces C) individual mandate D) employer mandate
The winner's curse occurs when
A) bidders "shade" their bids. B) the winning bid is higher than the good's common value. C) the winner buys something he didn't need. D) the winning bid is higher than the private value of the good.
Alex has an income of $50 . She spends her entire money either on burgers or on cookies. If the price of a burger is $10 and the price of a cookie is $5, Alex can afford a consumption bundle of 3 burgers and 8 cookies
a. True b. False Indicate whether the statement is true or false
Katherine gives piano lessons for $20 per hour. She also grows flowers, which she arranges and sells at the local farmer's market. One day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into flowers, she can sell them for $150 at the farmer's market. Katherine's accounting profits are
a. $100, and her economic profits are $100. b. $100, and her economic profits are $0. c. $0, and her economic profits are $100. d. $0, and her economic profits are $-100.