Which of the following is an implicit cost of going to college?
a. tuition and fees
b. books, computer equipment
c. income lost from not being able to work full time
d. future income
e. room and board
C
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In 2014, in the United States the sum of the balance of all three of the balance of payments accounts was
A) slightly negative. B) slightly positive. C) greatly positive. D) greatly negative. E) zero.
Random walk theory says
A. throwing darts will pick winners. B. random selection of stocks will do as well as other methods of stock choice. C. speculation cannot lose if you wait long enough. D. investment in stocks cannot be profitable.
The brand name of a firm
A) has nothing to do with the profitability of a firm. B) has been considered irrelevant by economists since profits for a monopolistic competitive firm are zero in the long-run. C) relates to consumers' perception of product differentiation and to the market value of a firm. D) is important in the short-run but not in the long-run.
Excluding indirect business taxes and depreciation, Gross Domestic Income (GDI)
A. never equals GDP. B. is the sum of all income paid to the factors of production. C. would equal GDP if there was no depreciation. D. cannot be computed.