The annual rental rate for a machine is:
a. the yearly depreciation and maintenance costs for the machine.
b. the yearly interest costs associated with owning the machine.
c. the initial purchase price of the machine divided by the number of years the machine is expected to last.
d. the sum of the yearly depreciation, maintenance, and interest costs associated with owning the machine.
d
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The data in the table above shows the consumption by families in a small (poor) economy. The families consume only salt and bread. The reference base period is 2011. The CPI in 2011 is
A) 94.2. B) 140.5. C) 124. D) 100. E) 106.2.
What is a Nash equilibrium?
What will be an ideal response?
Juanita, a lawyer, can type faster than Jill, her secretary. Jill, on the other hand, does not have the ability or skills to practice law. Applying the principles of international trade to this situation, an economic consultant advises Juanita to:
a. fire Jill, practice law during the day, and do her own typing at night. b. practice law and leave all the typing to the secretary. c. divide her time equally between typing and practicing law. d. quit practicing law and take a job as a secretary. e. have Jill attend law school.
If we consume 85 percent of our income, our APS is
A. -0.15. B. 0. C. 0.15. D. .85.