Which of the following is a variable cost for a taxi driver?
a. monthly car payment
b. car insurance payment
c. taxi licensing fee
d. fuel costs
d. fuel costs
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The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $20.00 per week. Milkshakes cost $2.00 each and sodas cost $.50 each
What quantity of milkshakes does Tom purchase at his consumer equilibrium? A) five B) six C) seven D) eight
If periodic use of a resource can be continued indefinitely, that resource is said to be
a. removable b. renewable c. cyclical d. recyclable e. part of a common pool
Which statement about the earned income tax credit is true?
a. Tax break amounts increase with the amount of income earned, up to a point. b. Tax break amounts decrease gradually with the amount of income earned. c. Tax break amounts are determined by the number and age of children in a family. d. Tax breaks are allowed for a maximum of five years.
Tom is an organic gardener. When Tom produces vegetables only for consumption by his family, a. the value of the vegetables he produces is not included in GDP
b. the value of organic vegetables cannot be included in GDP, because organic production does not fit a category of GDP. c. if Tom registers his garden with the Department of Agriculture, the value of his vegetables will be included in GDP. d. the value of farm production is not a part of GDP.