Laura's Pizza Place incurs $800,000 per year in explicit costs and $100,000 in implicit costs. The restaurant earns $1.3 million in revenues. Based on this information, what is the accounting profit for Laura's Pizza Place?
A) $200,000 B) $400,000 C) $500,000 D) $900,000
C
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Which of the following is not an example of agenda control?
a. The assignment of members of Congress to committees. b. Determination of the ballot language of a tax-and-expenditure limitation initiative. c. Special interests deciding which members of Congress deserve their attention. d. The majority caucus decides who can run for Speaker of the House of Representatives.
Which of the following would most likely cause the production possibilities curve for DVDs and food to shift outward?
a. A choice of more food and more DVDs. b. A choice of more food and less DVDs. c. A choice of more DVDs and less food. d. An increase in the quantity of natural resources.
The voting outcome and the most preferred outcome of the median voter are the same in a simple majority vote where there are several options from which to choose
Indicate whether the statement is true or false
A good that is most likely to be in the producer price index is:
A. passenger cars. B. gasoline. C. light trucks. D. All of these are in the PPI.