A firm built an inventory of 16-bit chips for $50,000 last year. However, the introduction of 32-bit chips lowers the market price for 16-bit chips and the inventory can only be sold for $40,000 now
What is the opportunity cost of the inventory of 16-bit chips? A) $50,000
B) $40,000
C) $10,000
D) $90,000
B
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The most significant form of revenue in developed countries is the income tax
a. True b. False
Less-developed countries are experiencing rapid population growth because _____
a. birthrates are rising at a slower rate than mortality rates b. birthrates are falling while mortality rates are rising c. both birthrates and mortality rates are falling d. birthrates are rising while mortality rates are falling e. birthrates are constant and mortality rates are rising
The figure below shows the supply and demand curves for jeans in Smallville.
The equilibrium price will NOT lead to the largest possible total economic surplus if:
A. the market for jeans is perfectly competitive. B. the production of jeans generates air pollution. C. there are diminishing returns in the production of jeans. D. jeans are purchased by consumers with reservation prices greater than $40.
Research shows that when exchange rates are more volatile, the price differentials are ____ and the convergence is _____.
A) smaller; faster B) smaller; slower C) larger; slower D) larger; faster