Refer to the table below. If the product sells for $1,200 a unit, the firm's profit-maximizing output is:
The table shows the total costs for a purely competitive firm.
A. 2
B. 3
C. 4
D. 5
C. 4
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Using the data in the table above, what is the value of GDP?
A) $13,516 billion B) $10,679 billion C) $9,541 billion D) $8,403 billion
If your nominal income in 2014 is $50,000, and prices increase by 50% between 2014 and 2017, then to have the same real income, your nominal income in 2017 must be
A) $50,000. B) $75,000. C) $100,000. D) $150,000.
The idea of horizontal equity in taxation implies that
a. equally situated individuals should be taxed equally. b. unequally situated individuals should be taxed unequally. c. benefits should be given first to those individuals who need them most. d. the greatest tax burden should be borne by the wealthiest individuals.
Please describe in detail a self-fulfilling currency crisis
What will be an ideal response?