Suppose that a business incurred explicit costs of $1.5 million and implicit costs of $300,000 last year. If the firm sold 4,500 units of its output at $450 per unit, its accounting profits were _______ and its economic profits were _______.
A commercial bank buys a $50,000 government security from a securities dealer. The bank pays the dealer by increasing the dealer's checkable deposit balance by $50,000. The money supply has:
Candy Cane Corporation (CCC) produces 100,000 boxes of candy canes per year that sell for $3 a box. If variable costs are $2 per box and it has $125,000 in fixed operating costs, in the short run the CCC should:
Refer to the graph below representing the purely competitive market for a product. When the market is at equilibrium, the total opportunity cost of producing the equilibrium output level would be represented by the area:
The payoff matrix below shows the daily profit for two firms, Row Restaurant and Column Cafe, for two different strategies, publishing coupons in the student paper and not publishing coupons in the student paper. <img src="https://sciemce.com/files/4/ppg__rrr0818190951__f1q297g1.jpg" alt="" style="vertical-align: 0.0px;" height="261" width="521" />If Column Cafe publishes coupons and Row Restaurant does not, then Row Restaurant will earn ________, and Column Cafe will earn ________.
If all individuals have identical utility functions and the marginal utility of income decreases as income increases, transferring income ________ will ________ total utility.
<img src="https://sciemce.com/files/4/ppg__rrrr0811191012__f1q442g1.jpg" alt="" style="vertical-align: 0.0px;" height="291" width="339" />According to the graph shown, what does P on the y-axis stand for?
The figure above shows how the PPF for cell phones and new cell-phone factories can expand. In the figure, if the economy produced 4 million cell phones using the resources efficiently, the PPF would
<img src="https://sciemce.com/files/4/ppg__sept8bb0513192043__f7g1q8g1.jpg" alt="" style="vertical-align: 0.0px;" height="309" width="431" /><img src="https://sciemce.com/files/4/ppg__sept8bb0513192043__f7g1q8g2.jpg" alt="" style="vertical-align: -4.0px;" />Refer to Figure 1A.1. If the hours worked per week are 20, the income per week is:
Angelo's Pizza is famous for its secret tomato sauce. The managers of Angelo's Pizza are more likely to produce all of their inputs rather than buy them due to ________.
Suppose the labor force in Tiny Town is 100 people. If the ________ in Tiny Town is 150 people, the labor force participation rate equals ________ multiplied by 100
In 2010, the United States and foreign economies start to recover from the recession. U.S. firms increase their profit expectations. As a result, the demand for loanable funds curve shifts ________ and the real interest rate ________
In 2008, the Treasury and Federal Reserve took several actions in response to the deepening financial crisis. One action was the Treasury's move to have the federal government take control of
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