Suppose a used car dealer can earn an additional $25,000 in revenue per year by increasing advertising on a local radio station from 3 times a day to 5 times a day
At what additional cost would this increase in advertising not be considered economically rational?
If the additional cost of the increase in advertising exceeds $25,000 per year, the decision would not be economically rational.
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If a demand curve shifts to the right, then
A) quantity demanded has decreased. B) quantity demanded has increased. C) demand has increased. D) demand has decreased.
Specialization leads to
a. increases in production because labor uses more advanced technology b. decreases in production because each resource becomes less productive c. increases in production because more resources are being used d. increases in production because each resource becomes more productive e. increases in production because capital is more productive than labor
If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price elastic.
Answer the following statement true (T) or false (F)
Under which exchange rate system was a dollar redeemable for gold only if the dollar was presented by a foreign central bank?
A) a fiat system B) the gold standard C) a managed float exchange rate system D) the Bretton Woods System