Which of the following is an input in the circular flow diagram for an economy with two sectors?
a. A resource labor from the household sector
b. A good supplied from the firm sector
c. The revenue earned by the firm sector
d. The income earned by the household sector
a
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Skeeter's Skeeball Castle has seen its business slow down ever since Kerrie's Off-Key Karaoke opened up next door. Since the opening of Kerrie's Off-Key Karaoke, the opportunity cost of playing skeeball at Skeeter's has
A) decreased. B) not changed. C) fallen to zero. D) increased.
Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below.Mega Corp: TC = 5,000 + 100QBig Inc: TC = 4,000 + 200QFor both firms, average total cost:
A. increases as quantity increases. B. declines as quantity increases for Mega Corp and increases as quantity increases for Big Inc. C. declines as quantity increases. D. is constant for all quantities.
Redistribution of income from the rich to the poor is achieved from a tax system that requires taxes to rise with income. Which of the following criteria best explains the goal of this tax system?
A. stability B. efficiency C. growth D. equity
Refer to the information provided in Table 25.8 below to answer the question(s) that follow.Table 25.8
Refer to Table 25.8. If the required reserve ratio were changed to 10% and Alamo Bank continues to hold $1,200,000 in reserves, its excess reserves will be
A. $150,000. B. $300,000. C. $600,000. D. $900,000.