According to the superstar phenomenon, the most talented person in the following occupations is likely to earn extremely high wages except
a. an author.
b. an auto mechanic.
c. a singer.
d. an advice columnist.
b
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Explain the relationship among the capital stock, gross investment, net investment, and depreciation
What will be an ideal response?
Inflation targeting is a framework for carrying out monetary policy whereby
A) the central bank commits to a monetary growth rule. B) the central bank commits to achieving a publicly announced level of inflation. C) the central bank commits to achieving a target level of inflation which is never announced publicly. D) the central bank adopts a rigid target for inflation and ignores declines in output.
Jack and Diane each buy pizza and paperback novels. Pizza costs $3 per slice, and paperback novels cost $5 each. Jack has a budget of $30, and Diane has a budget of $15 to spend on pizza and paperback novels. Which consumer(s) can afford to purchase 5 slices of pizza and 5 paperback novels?
a. Jack only b. Diane only c. both Jack and Diane d. neither Jack nor Diane
Joe is self-employed in a store that has a rental value of $500 a month which he pays, but he can vacate the building without giving notice. His other expenses are $100 a month for maintenance. He makes $25,000 a year on net sales (total revenue minus the wholesale cost of the product). If he quit his job and worked the same number of hours elsewhere at a job he liked equally well, he estimates that he could make $20,000 a year. No one else can be hired to work in the store. Suppose that Joe had a long term lease which requires him to pay the rent even if he doesn't operate the store. What should Joe do?
A. Keep the job permanently. B. Keep the job until the lease expires. C. Quit immediately. D. It is impossible to say with the information given in the problem.