Answer the following questions true (T) or false (F)
1. Examining the conditions that could lead to inflation in an economy is an example of a microeconomic topic.
2. Suppose that to move more people off the wait list for organ donations, surgeons and hospitals are developing a market for organ swapping. This is an example of a macroeconomic topic.
3. Examining the conditions that could lead to economic growth is an example of a macroeconomic topic.
1. FALSE
2. FALSE
3. TRUE
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Molly Sharp is producing a documentary about the plight of the six-toed ferrets of Sri Lanka. Molly has spent $125,000 of her own money on this project and the documentary is now complete
Molly just found out that no studio is willing to release her documentary and she must now shop it to cable television networks, where she knows she will not be able to recoup her investment. Which of the following statements regarding Molly Sharp's documentary is true? A) The $125,000 investment is an economic cost, and she will still make an accounting profit even if the television network willing to air her documentary pays her less than $125,000. B) She should not try to have her documentary aired on television because she cannot recoup her $125,000 investment. C) Since the $125,000 is a sunk cost, she should still try to have her documentary aired on television even though she will not see a profit. D) The $125,000 is a variable cost, so will not be incurred if she chooses not to have her documentary aired.
Refer to Scenario 2. What are the units of measurement for the standard error of the estimate?
What will be an ideal response?