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According to your readings, it will always make economic sense for you to start a business if your business can make economic profit. How does economic profit differ from accounting profit? Have you ever considered starting a business? If you were to start your own business someday, describe the revenues and costs you would consider (make sure you are describing economic profit in your analysis).
Can you give 2 examples of of people who work part time for economic reasons and 2 examples of people who work part time for non economic reasons?
About 80% of the U.S. federal money that could have been spent on the project could alternatively have been used to improve the subway system. Is this fact relevant for estimating the net benefit of the project? If your answer is no, explain why the..
The water fountains in Learned Hall are costing $1200 a year to maintain. How much money can you justify spending NOW for new fountains and plumbing (materials and labor combined) if no maintenance will be needed for the first 3 years, $200 a year fo..
John Cardinals has decided to purchase a house in Moncks Corner, SC. The price of the house is $ 80000 after a down payment of $ 20000. The Bank of America will finance the purchase for 25 years at 9%. Advise about which choice he should take and the..
Velocity remains constant at 8 and the money supply increases from $200 billion to $300 billion. If real GDP increased by 10?%, then the price level increased by __ ?%?
A perfectly competitive firm will shut down immediately when the market price falls below
Which of the following is the primary disadvantage of producing inputs within a firm?
Suppose there are only two countries, Nookshire and the Anniston. There are only two products, ale and swords. Both countries produce these products. Production of both products requires the factors capital and labor as inputs. According to the Hecks..
Using basic economic principles, state what you think will cause market fluctuations over the next few years as the economy struggles to recover. What areas of the economy should be closely watched as indicators of future activity?
find out the annual prices of oil for the past 5 years. By what percentage is the current price higher or lower than 5 years ago.
Which of the following is least likely to be part of the opportunity cost of a college degree? An increase in the interest rate is expected to cause the optimal level of human capital investment for an individual to:
An annuity runs for 25 years as follows: at the end of each of the - . first ten years 500 is paid, and then at the end of each of the last 15 years 300 is paid. If i= .08, find the value of this annuity three years before the first payment.
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