Using the compensating differential approach, the value of a life is calculated as
A) the compensating differential multiplied by the increased chance of death.
B) the sum of the compensating differential and the increased chance of death.
C) the compensating differential divided by the increased chance of death.
D) the difference between the compensating differential and the increased chance of death.
C
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Which of the following statements is true?
A) If the actual unemployment rate is currently 5% and the natural unemployment rate is 5%, then the economy is operating at full-employment. B) The labor force participation rate is equal to the civilian noninstitutional population divided by the civilian labor force. C) A discouraged worker is counted as an unemployed worker. D) a and c E) a, b, and c
Economists think of products as being in the same market if they
A. are traded in the same geographic location. B. cannot be substituted for other goods and services. C. are highly interchangeable. D. produced by companies that complete with each other.
A ________ is a simplified representation of a problem that captures the essential issues.
A. hypothesis B. precept C. model D. theorem
Frank Murphy is considering how many snowmobiles to purchase for his snowmobile rental business. Below are his estimates of the number of snowmobile rentals per year, depending on the number of snowmobiles available.Number ofSnowmobilesYearlyrentals1902170324043005350After paying all non-interest expenses, expenses Frank expects to net $10 per rental. Each snowmobile costs $15,000. How many snowmobiles should Frank purchase if the real interest rate is 6.5%?
A. 1. B. 2. C. 0. D. 4.