Extensive government restrictions on the use of capital are likely to
A) result in capital resources being devoted to their most efficient uses.
B) enhance economic growth.
C) enhance economic freedom.
D) create dead capital.
D
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Jim is planning on attending a football game that costs $40 . He will have to take the day off from the work losing 8 hours of work. His hourly wage is $10 . He estimates it will cost him around $20 for gas and parking at the game. Jim's total economic cost of attending the game equals
a. $80 b. $40 c. $20 d. $140
Use the following general linear demand relation:Qd = 100 - 5P +0.004M - 5PRwhere P is the price of good X, M is income, and PR is the price of a related good, R. Income is $80,000, and the price of the related good is $40. Also let consumers' tastes change so that consumers now demand 100 more units at each price. When the price of the good is $50, how many units of the good are demanded?
A. 220 B. 200 C. 70 D. 100 E. none of the above