When Wilma in Wisconsin buys stock in BMW in Germany, NCO:
A. decreases.
B. is unaffected.
C. increases.
D. is zero.
C. increases.
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Harry's Hookahs incurs $700,000 per year in explicit costs and $500,000 in implicit costs. The company earns $1.4 million in revenues and has $3.7 million in net worth. Based on this information, what is the economic profit for Harry's Hookas?
A) $200,000 B) $700,000 C) $900,000 D) $1.1 million
Economist James Tobin developed a formal model that justifies holding ________, and it goes some way in explaining variations in the demand for ________
A) only safe assets or only risky assets, M1 B) only safe assets or only risky assets, M2 C) a mix of safe and risky assets, M1 D) a mix of safe and risky assets, M2
If price increases and the quantity purchased increases, we know that
A) supply increased. B) supply decreased. C) demand increased. D) demand decreased.
Explain what is meant by "derived demand" as it relates to factors of production