Scott used $4,000,000 from his savings account that paid an annual interest of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His accounting profits is:
a. $300,000
b. $100,000
c. $80,000
d. $20,000
b
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Use the following graph to answer the next question.
If AD1 shifts to AD2, with no change in the price level, there will be an increase in Real GDP from ________.
A. Q1 to Q2 B. Q2 to more than Q3 C. Q2 to Q3 D. Q1 to Q3
Which of the following is a similarity between a second-price sealed-bid auction and an English auction?
A) Bids are placed privately in both the auctions. B) Bids are placed publicly in both the auctions. C) Bidders place their bids simultaneously in both the auctions. D) The winner pays an amount equal to the second-highest bid in both the auctions.
The resource income earned by those who supply labor services is called
A) profit. B) bonus. C) stock options. D) wages and salaries.
Amber's Ambrosia's share of the delicacy market is 10% If the own price elasticity of the aggregate fast food industry is 0.8, what is the own price elasticity of Amber's fast food?
a. 5 b. 6 c. 7 d. 8