Which of the following correctly describes the external benefit resulting from an individual's purchase of a winter flu shot?
A. The flu shot is cheaper than the cost of treatment when you get the flu.
B. The income of doctors increases when you get the flu shot.
C. The flu shot reduces the likelihood others will catch the flu.
D. The flu shot reduces the likelihood you will miss work as the result of sickness; therefore, you will earn more income.
Answer: C
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If the interest rate is 10%, then $1 today is worth how much one year from now?
A) $1.10 B) $1.00 C) $0.91 D) $0.90
Paul's Plumbing is a small business that employs 12 people. Which of the following is most likely to be a fixed cost for Paul's Plumbing?
a. The tax and insurance payments on the property owned by the firm. b. The wages paid to the 12 employees. c. The payroll taxes on the wages of the 12 employees. d. The salary paid to Paul, who is the manager of the firm.
Figure 15-1
Figure 15-1 describes conditions in the monopolized weezil industry. In the absence of government intervention, the monopolist will produce an output equal to
A. W. B. X. C. Y. D. Z.
What is the difference between the present value of $550 to be received after 3 years and after 5 years from now at an annual interest of 15 percent?
a. $73.49 b. $61.60 c. $250.02 d. $88.11