A rancher raises shee
A) only the raw wool and the yarn. B) only the yarn and the sweaters.
C) the raw wool, the yarn and the sweaters. D) only the sweaters.
D
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If government increases taxes by the same amount it increases government spending, there will be no effect on aggregate demand: the increase in government spending is offset by an equal decrease in consumption spending by households
Indicate whether the statement is true or false
What best describes what happens to the share of income spent on food as income increases?
a. The share increases. b. The share decreases. c. The share stays the same.
In a market economy, which of the following is an incentive for producers to produce efficiently?
A. The production possibilities curve. B. Profits. C. Government laws and regulations. D. The public's welfare.
Vipsana's Gyros House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. Vipsana pays her employees $60 per day. She also incurs a fixed cost of $120 per day. Calculate Vipsana's average fixed cost per day when she
produces 50 gyros using two workers? A) $2.00 B) $2.40 C) $4.40 D) $6.80