The Lawn Ranger, a landscaping company, has total costs of $5,000 and total fixed costs of $3,000. The Lawn Ranger's total variable costs are
A. $2,000.
B. $3,000.
C. $5,000.
D. indeterminate because the firm's output level is not known.
Answer: A
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TIAA-CREF, Teamsters' Union, and CalPERS are all primarily:
A. commercial banks. B. thrifts. C. insurance companies. D. pension funds.
If buyers cannot assess the quality of used cars but there are warranties for cars,
A) too few lemons are sold. B) too many good used cars are sold. C) good used cars are sold at a higher price than lemons. D) there is an adverse selection problem.
The practice of tenure at American universities is quite common
When a junior professor is approved for tenure he or she is promoted to associate or full professor and enjoys for all intents and purposes lifetime employment and protection against firing in the event that he or she's views are at odds with the university administration. While this policy has been in place for many decades across the country why is it that universities are hesitant to grant and do so only after careful evaluation of the candidate's work even though the salary they may have to contract is lower than what one might receive in the private sector.
When domestic and foreign currency bonds are imperfect substitutes, the domestic interest rate (R) can be written as
A) R = R - (Ee - E)/E + ?. B) R = R - (Ee - E)/E. C) R = R + (Ee - E)/E + ?. D) R = R - (Ee + E)/E + ?. E) R = R - (Ee - E)?.