Trevor's Tire Company produced and sold 500 tires. The average cost of production per tire was $50 . Each tire sold for a price of $65 . Trevor's Tire Company's total profits are
a. $7,500.
b. $25,000.
c. $32,500.
d. $67,500.
a
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Describe the mechanism which would take place if the Bank of England decides to increase its money supply by purchasing domestic assets under the gold standard
What will be an ideal response?
Which of the following is true?
a. Competitive behavior is present in the market sector but not in the public sector. b. Because candidates for public office represent a bundle of views, there is more ability for individuals to make their preferences count on specific issues than in the market sector. c. When decisions are made democratically, the economic and political power of all individuals will be equal unlike in the market sector. d. The reality of the aggregate consumption-aggregate payment link imposed by scarcity is present in both the market and public sectors.
The local golf course has upgraded seven of its 18 holes and raised its rates from 20 to 24 dollars. It would be correct to say that
A. the true inflation rate for golf is less than 20%. B. the true inflation rate for golf is 20%. C. the true inflation rate for golf is more than 20%. D. more information is needed to answer this question.
If GNP is $10,000 and depreciation is $2,000, what is NNP?
a. $5,000 b. $8,000 c. $12,000 d. $20,000