Veruca sells therapeutic bath salts on the Internet. Her annual revenue is $52,000 per year, the explicit costs of her business are $14,000, and the opportunity costs of her business are $17,000 per year. What is her accounting profit?

A) $14,000 B) $21,000 C) $31,000 D) $38,000


D

Economics

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Consider the labor market below. Suppose the government passes a minimum wage requiring employers to pay at least $8.00 per hour.  Employment will fall by ________ person-hours per day as a result of the minimum wage.

A. 4,000 B. 8,000 C. 6,000 D. 2,000

Economics

The ________ the marginal tax rate, the ________ the effect on aggregate expenditure from a change in investment

A) smaller; smaller B) smaller; larger C) larger; smaller D) larger; larger E) More information about the effect on GDP is needed to answer the question.

Economics

A vertical demand curve for a particular good implies that consumers are

A) sensitive to changes in the price of that good. B) not sensitive to changes in the price of that good. C) irrational. D) not interested in that good.

Economics

Some nations are more involved in international trade than others, as measured by exports as a percentage of GDP. Which of the following most closely matches the exports as a percentage of GDP for the U.S. in 2009?

a. 71 percent b. 51 percent c. 31 percent d. 11 percent

Economics