According to this Application, why is the value of Wal-Mart's 2014 sales NOT an accurate measurement of its actual sales impact on the U.S. economy?
A) The sales figure includes the value of purchases from other firms.
B) The sales figure did not account for chain-weighted inflation measurements.
C) The sales figure was in nominal, not real, dollars.
D) The sales figure did not take into account the recession of 2008.
A
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Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom's experience allows him to debone 60 chicken breasts per hour. Both Mike and Tom work 40 hours per week. Their average hourly productivity as a team is ________ chicken breasts.
A. 60 B. 30 C. 45 D. 90
If national income increases by $20 million and consumption increases by $5 million, the marginal propensity to consume is
A) 4. B) 0.75. C) 0.5. D) 0.25.
A major objective of tax policy should be to
a. avoid distortions in resource allocation while raising revenue b. divert savings from the private to the public sector c. increase the government's ability to direct the economy d. supplement resources entering the country from foreign aid e. all of the above