Shoe leather costs include the ________ due to the more frequent trips to the bank, the new cash management systems and the expanded employment in banks that inflation causes.
A. bracket creep and redistribution that occur
B. time and effort that are used up
C. substitution and price adjustment biases that arise
D. deflating and indexing that are necessary
Answer: B
Economics
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Which of the following are examples of the gross private domestic investment component of GDP?
I. the purchase of production machinery by IBM II. an increase in the finished goods inventory at Intel A) I only B) II only C) both I and II D) neither I nor II
Economics
There is only one gas station within hundreds of miles. The owner finds that when she charges $3 a gallon, she sells 199 gallons a day, and when she charges $2.99 a gallon, she sells 200 gallons a day. The marginal revenue of the 200th gallon of gas is:
a. $.01. b. $1. c. $2.99. d. $3. e. $600.
Economics