You use $50,000 of your own money to start a catering business. During the first year you earn a 5% return on that investment. If the current interest rate is 8%, you earn an economic profit of
A. -$4,000.
B. -$2,500.
C. -$1,500.
D. $4,000.
Answer: C
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The market demand curve for mangos is
A) upward sloping because rich people can afford more mangos than poor people can buy. B) the same as the demand curve of one buyer in a market with many buyers. C) the horizontal sum of the individual demand curves of all the buyers. D) the vertical sum of the individual demand curves of all the buyers. E) the horizontal average of the individual demand curves of all the buyers.
Why do you supposed that it is easier for a government to protect and maintain a domestic monopoly for a particular industry but next to impossible to accomplish if this firm operates internationally?
What will be an ideal response?
The intersection of GG and LL determines
A) the optimal level of integration desired by Norway. B) the maximum integration level desired by Norway. C) the minimum level of integration that will cause Norway to join the fixed exchange rate regime. D) the maximum level of integration that will cause Norway to join the fixed exchange rate regime. E) the maximum level of integration that can aid Norway if it joins the fixed exchange rate regime.
Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to real GDP in 2015 was ________ and in 2016 was ________.
A. $80,000; $88,000 B. $80,000; $90,000 C. $88,000; $90,000 D. $80,000; $99,000