General sales taxes totaled 226.7 billion dollars as a source of state revenue in 2008.
A. True
B. False
C. Uncertain
A. True
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The demand for factors of production is referred to as:
A. primary demand. B. derived demand. C. implied demand. D. production demand.
If a firm is producing 10 pizzas, and the price of a pizza = $3.50, the AFC = $.80, and AVC = $3.00, then the firm is
a. earning a profit of $.80 per pizza b. earning a total profit of $8.00 c. losing $.30 per pizza d. losing a total of $6.00 e. earning a profit of $.50 per pizza
When a profit maximizing firm produces, they will be producing at that output at which marginal cost = marginal revenue
A. all of the time. B. some of the time. C. on rare occasions. D. none of the time.
Federal spending on elementary and secondary education rose from $39.7 billion to $40 billion in 2007. Inflation at the time was 2.5%. Explain what happened to real spending on education in 2007.
What will be an ideal response?