What is economic profit?
What will be an ideal response?
Total revenue - economic cost.
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If Oscar's MPC is 0.95 and he earns an additional $2,000, how much would he spend?
a. $100 b. $1,900 c. $2,105 d. $40,000
If we use the expenditure approach to measure GDP and the income approach to measure national income, we arrive at the same value
Indicate whether the statement is true or false
Which of the following can the government not use directly to control the economy?
a) Pay rates within the private sector b) Pay rates in the public sector c) Investment in state education d) Benefits available for the unemployed and sick
Refer to the data provided in Table 11.2 below to answer the following question(s). Table 11.2 
Refer to Table 11.2. When the interest rate ________, the farmer will investment in all four projects.
A. is less than 15% B. is greater than 15% C. is greater than 5% D. is less than 5%