Dave's Mirror Company expects to sell $1,000,000 worth of mirrors and to produce $1,250,000 worth of mirrors in the coming year. The company purchases $300,000 worth of new equipment during the year. Sales for the year turn out to be $900,000. Actual investment by Dave's Mirror Company equals ________ and planned investment equals ________.
A. $550,000; $450,000
B. $300,000; $200,000
C. $650,000; $550,000
D. $250,000; $150,000
Answer: C
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The figure above shows two Lorenz curves, one before income redistribution and one after income redistribution. Lorenz curve B represents
A) market income. B) money income. C) money income before taxes. D) income after taxes.
If a firm can create important complements to its original product, it has
a. Created an uncontrollable factor that can change the demand for its product b. Created an uncontrollable factor that cannot change the demand for its product c. Created a controllable factor that can change the demand for its product d. Created a controllable factor that cannot change the demand for its product
In thinking about the criteria for an ideal voting system, needing no dictator means:
A. one person cannot have their preferences represented in what voters decide upon. B. one person cannot have the power to enact his or her own preferences. C. those in power must be forced to listen to the will of the people when enacting policy. D. the presence of pure democracy is needed, so everyone gets a vote.
The national debt refers to the difference between revenues and expenditures in any given year
Indicate whether the statement is true or false