The value of transactions in the underground economy is estimated to be about what percentage of GDP in the United States?
A. 2 percent
B. 8 percent
C. 19 percent
D. 25 percent
B. 8 percent
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A firm's total fixed cost (TFC) is a cost
A) it is certain ("fixed") that the firm must pay. B) that does not change as output changes. C) that is dependent on marginal cost. D) that is paid in only the long run.
Facing stiff competition, Hendrix College, a small liberal arts institution in Conway, Ark
, decided two years ago to bolster its academic offerings, promising students at least three hands-on experiences outside the classroom, including research, internships and service projects. Although it raised tuition and fees by 29 percent, enrollment in the freshman class rose by 37 percent. Source: Jonathan D. Glater and Alan Finder, "In New Twist on Tuition Game, Popularity Rises With the Price," New York Times, December 12, 2006 Based on the information above, the demand for Hendrix College education is A) relatively elastic. B) unit elastic. C) perfectly elastic. D) More information is needed to answer the question.
The point where quantity demanded and quantity supplied are equal is known as the
a. ceiling price. b. minimum price. c. equilibrium price. d. administered price.
A tradable government permit for the atmospheric release of a ton of sulfur dioxide can help reduce acid rain
a. True b. False Indicate whether the statement is true or false