Use the above table. At an income of $150
A) real saving is $20. B) real dissaving is $50.
C) real saving is $10. D) real dissaving is $10.
C
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The U.S. spent 3 percent of GDP building and maintaining the public infrastructure between 1950 and 1970 . Since 1980, that share has: a. decreased slightly to 2 percent
b. decreased all the way to zero. c. stayed constant at 3 percent. d. increased slightly to 4 percent. e. increased significantly to 8 percent.
Which of the following is a partially valid economic argument for restricting free trade?
a. Restrictions on foreign trade will increase employment and permanently reduce unemployment. b. Removal of restrictions that have existed for years will initially cause inflation. c. Infant industries need permanent protection to develop and gain productive efficiency. d. A nation needs to protect industries that are vital to national defense in case of future international conflict.
Suppose there are 1,825 taxi medallions in Boston, each valued at about $250,000. Assume the price elasticity of demand for taxi rides is 1; the current price for a taxi ride is $4.75 per mile, and the cost of the ride is $3.00 per mile. How much would a person be willing to pay for a new medallion if the city increased the number of medallions to 2,000? (Hint: The price of the medallions is equal to the total profit from the average total number of miles each medallion will accumulate.)
A. $250,000 B. $160,000 C. $337,000 D. $185,000
If an industry has 25 firms that collectively have $150 million in total sales and the top four firms in this industry account for $90 million in sales, what is the concentration ratio of the top four firms in this industry?
A. 70 percent B. 80 percent C. 60 percent D. 42 percent