Refer to Figure 13-4. What is the area that represents the total revenue made by the firm?
A) 0P0aQa B) 0P2cQa C) 0P1bQa D) 0P3dQa
B
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Skill-biased technological has different effects on the marginal products of ________ workers and ________ workers.
A. higher-skilled; lower-skilled B. government; private-sector C. male; female D. union; nonunion
If all poor families had the same income and no more than 4 persons, nearly one-eighth of the nonaged poor would no longer be counted as poor
Indicate whether the statement is true or false
Which of the following countries had a major financial crisis in 1994?
a. Malaysia b. Russia c. Mexico d. The United States e. Singapore
Suppose Winston's annual salary as an accountant is $60,000, and his financial assets generate $4,000 per year in interest. One day, after deciding to be his own boss, he quits his job and uses his financial assets to establish a consulting business, which he runs out of his home. To run the business, he outlays $8,000 in cash to cover all the costs involved with running the business, and earns revenues of $150,000. What are Winston's implicit costs?
A. $60,000 B. $72,000 C. $64,000 D. $4,000