The business owner will try to maximize
A. profit per unit of output.
B. total profit.
C. total revenue.
D. output.
B. total profit.
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Asymmetric information refers to a situation where people who pose the greatest risk to insurers are the ones who buy insurance
Indicate whether the statement is true or false
All of the following are components of the expenditure approach to measuring GDP EXCEPT
A) Shaniq's purchase of a meal at the Olive Garden in Atlanta. B) a Senator from Iowa being paid the monthly salary. C) the army buying new M1 Abram tanks. D) Ford Motor Company buying new Dell computers for use in its marketing department in Dearborn, Michigan.
Jayanthi moves her yoga studio from her home to a space she rents in Oakland, California. Holding everything else constant, as a result of this move
A) her implicit cost falls and her explicit cost rises. B) her opportunity cost rises. C) her economic cost rises. D) her explicit cost falls and her implicit cost rises.
Holding large amounts of bank capital helps prevent bank failures because
A) it means that the bank has a higher income. B) it makes loans easier to sell. C) it can be used to absorb the losses resulting from bad loans. D) it makes it easier to call in loans.