Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same. What is the implied (approximate) interest rate if black sells for $18, red for $34 and blue for $388

The demand for foreign currency is derived from the demand for that country's goods and services

a. True b. False Indicate whether the statement is true or false

Often, in criminal court, the judge will sentence a defendant to 10 days in jail or a $500 fine. Some choose jail time, others the fine. What best determines their choice? a. They compare the loss of utility from doing time versus the loss of utility from giving up the $500 . If the loss of utility associated with the $500 is greater, they willchoose jail time

b. If they can earn $500 or more in 10 days, they will choose the fine. c. If they can earn no more than $499 in 10 days, they will choose the fine. d. Jail time generally has a utility of zero. If the utility of the $500 is greater than zero, they will choose the fine. e. Jail time generally has a utility of zero. If the utility of the $500 is greater than zero, they will choose jail time.