Which of the following is an example that can help explain increased profits for large financial holding companies?
A. Financial holding companies are not well diversified and receive a higher return for the higher risk.
B. Financial holding companies are exempt from having to pay for FDIC insurance.
C. Financial holding companies offer a wide array of services under many brand names.
D. Financial holding companies need only one CEO, one Board of Directors, and one computer system regardless of size.
Answer: D
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Suppose a university refunds students 75% of their tuition if they drop out before the third week of class, 50% if they drop out between their third and fifth week, 25% if they drop out between their sixth and eighth week, and 0% after the eighth
week. Flint paid $1,000 tuition, and is in his fourth week of class. What's his sunk cost? A) $0 B) $250 C) $500 D) $750 E) $1,000
Another commonly used algebraic form for a demand function is the semi-logarithmic functional form, ln(Q) = a - bP + cI, where Q is quantity demanded, P is the product price, and I is income
Here, 100 c represents the percentage change in quantity demanded given a one unit increase in income. For a normal good, we should expect the value of c to be: A) positive. B) negative. C) positive or negative. D) We do not have enough information to answer this question.