Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She earns $10 per hour at a part-time job at the local coffee shop. She can sell a photo frame for $30 each. An accountant would calculate the total cost for one photo frame to be
a. $5.
b. $10.
c. $15.
d. $25.
a
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Merck, an American pharmaceutical company, produces a vaccination that is used against chicken pox. The table shows the domestic demand for, and supply of, this medication, measured in thousands of doses per day
The world price of this medicine is $24 per dose. a. With no trade, what is the U.S. price and quantity of the vaccine? b. At the world price, how many doses are demanded in the United States? c. At the world price, how many doses are produced in the United States? d. At the world price, how many doses are exported?
In the United States since 1900, life expectancy at birth has ________ and the death rate has ________
A) decreased; increased B) increased; increased C) decreased; decreased D) increased; decreased
In Figure 3-3 above, when income is 1,500, unplanned inventory investment is
A) 200. B) 300. C) 500. D) -200. E) -500.
The marginal propensity to consume is
a. the change in income divided by the change in consumption b. consumption spending divided by income c. income divided by consumption spending d. the change in consumption divided by the change in income e. the change in consumption divided by income