Which of the following formulas is correct?
A. Profit = Revenue ?Cost
B. Revenue = Profit ?Cost
C. Profit = Revenue + Cost
D. Revenue = Cost ÷ Profit
Answer: A
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If an economy is growing at a rate of 2.5% per year, how long will it take the economy to double in size?
A) 60 years B) 43 years C) 36 years D) 28 years
Marginal resource cost is defined as the
a. total cost of producing a unit b. total cost of adding one more unit of a resource, other things constant c. cost of adding one more unit of a resource, other things constant d. marginal cost divided by the quantity of a resource e. price of labor
Your roommate has the right to play her harmonica during the day. But you find the best time to study is during the day, and the harmonica playing makes it hard for you to concentrate. You tell your roommate that you will do her laundry every week if she does not play the harmonica during the day and she agrees to this. This is an example of
A. the Coase theorem. B. liability rules. C. the drop-in-the-bucket problem. D. an injunction.
If the money supply in an economy is $100,000, currency in circulation is $50,000, amount in savings accounts is $18,000, travelers' checks is $12,000, and the amount in money market accounts is $9,000,
then what is the amount held in checking accounts in the economy?