Imputed rental income is considered taxable income to the homeowner under current tax law
a. True b. False
b
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Because resources are scarce,
a. opportunity costs are zero b. people must make choices among alternatives c. all human wants and desires can be satisfied d. resource prices are fixed e. commodities are free
The salary of an athlete like Peyton Manning is in part a reward for his unique ability-something economists call economic rent
a. True b. False Indicate whether the statement is true or false
The Scarcity Principle states that:
A. society will eventually run out of resources. B. with limited resources, having more of one thing means having less of another. C. people don't have enough money to buy what they want. D. some countries have fewer resources than others.
In using the Internal Rate of Return approach, one must first calculate the discount rate on the investment that makes
A) the net present value equal zero. B) the interest rate equal zero. C) the interest rate equal the discount rate. D) the first year's return positive.