The difference between gross and net investment is referred to as:
a. a personal tax.
b. the income earned but not received.
c. a capital consumption allowance.
d. an indirect business tax.
e. a statistical discrepancy.
c
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Your opportunity cost of attending a lecture on the number of brain cells lost by binge-watching episodes of Here Comes Honey Boo Boo is
A) zero, since you already know that binge-watching will kill all of your brain cells. B) the price of the ticket for the lecture. C) the value of attending a meditation class, which is your next-best alternative. D) the total value of all other options you could have chosen instead of going to the lecture.
Suppose the major soft drink companies develop vending machines for canned and bottled drinks that can determine your maximum willingness-to-pay for a drink, and the machine charges you that price when you purchase a drink
If this were possible, the consumer surplus in the vended soft drink market would be: A) positive because consumer surplus equals consumer expenditures in this case. B) positive because the market demand curve is perfectly inelastic in this case. C) negative because people are not actually willing to pay their maximum value for the product. D) zero because all surplus value is captured by the seller.