Two friends, Diane and Sam, own and run a bar. Diane tends bar on Monday, Wednesday, and Friday and receives a wage in addition to tips. Sam tends bar on Tuesday, Thursday, and Saturday and receives only tips. Which of the following represents an implicit cost of operating the bar?
a. Diane's wage.
b. Sam's time.
c. Diane's tips.
d. Sam's tips.
e. Both Diane's and Sam's tips.
b
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Under a fixed exchange rate system, if the inflation rate of the United States is less than the inflation rate of other nations, the
A) United States will develop a trade surplus. B) dollar will appreciate. C) United States will develop a trade deficit. D) dollar will depreciate.
An increase in the price of an input will cause supply to increase
Indicate whether the statement is true or false
Given the equations for C, I, G, and NX below, what is the equilibrium level of GDP?
C = 1,000 + 0.8Y I = 1,500 G =1,250 NX = 100 A) $3,080 B) $3,850 C) $6,930 D) $19,250
Increased profits provide more internal funds to finance capital investments and a major factor in lenders' and investors' decisions to provide external funds to the firm
Indicate whether the statement is true or false