The table contains data for a hypothetical single-product economy. Nominal GDP in year 3 is
A. $100.
B. $225.
C. $450.
D. $150.
Answer: C. $450.
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Suppose a new Concordia University graduate will have an annual nominal income of $35,000 for the first year she works. If the annual inflation rate is 10 percent, what salary would she need in the second year to maintain the same real income?
a. $35,000 b. $40,000 c. 31,500 d. 38,500
In 150 words or more, tell how locus of control affects ethical behavior. Discuss an example you have witnessed in the workplace. The example can be a positive or a negative one, but be careful to not use names or other information that can get one into trouble.
What will be an ideal response?
The following input-requirements data are for Country A, a capital-abundant country that produces nothing but bread and wine using only capital and labor as inputs. 1 Pound of Bread1 Gallon of WineCapital Input5 units20 unitsLabor Input4 units10 units In the long run, which of the following can most reasonably be inferred after this country engages in free trade?
A. The wage rates will decline but the returns to capital will increase. B. The returns to capital will rise in the wine industry and will fall in the bread industry. C. The returns to capital will decline but the wage rates will increase. D. The wage rates will increase in the wine industry and will decline in the bread industry.
An industry in which there are five firms each accounting for 20 percent of the market has an HHI of 2,000.
Answer the following statement true (T) or false (F)