Barbara owns a small shop where dresses are made. At the end of a given month, she has 250 dresses. Her expenses for the month are $1,000 for rent, $6,000 for wages, $1,500 for fabric and thread, and $500 for electricity. Her total variable cost for the month is
a. $6000
b. $4,000
c. $32 per dress
d. $7,500
e. $8,000
E
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If foreign investment in the United States exceeds U.S. investment abroad, there is a ________; and when U.S. investment abroad exceeds foreign investment in the United States, there is ________
A) current account surplus; a current account deficit B) current account surplus; an official accounts surplus C) capital and financial account surplus; a capital and financial account deficit D) capital and financial account deficit; a capital and financial account surplus
Each point on the Phillips curve represents a combination of the:
a. prime rate and the savings rate. b. savings rate and the unemployment rate. c. inflation rate and the unemployment rate. d. consumption rate and the inflation rate.
Programs to control government spending automatically kick in when government spending exceeds 15% of gross domestic product
Indicate whether the statement is true or false
Which of the following is not correct?
a. The regional Federal Reserve Banks play a role in regulating banks and ensuring the health of the banking system. b. The President of the New York Federal Reserve Regional Bank always gets to vote on the decisions made by the Federal Open Market Committee. c. U.S. monetary policy is made by the Federal Open Market Committee. d. The Federal Open Market Committee meets every 12 weeks.