What are the five economic activities?
(A) Producing, exchanging, consuming, saving, and investing.
(B) Developing, exchanging, purchasing, saving, and investing.
(C) Manufacturing, trading, consuming, saving, and investing.
(D) Farming, trading, purchasing, saving, and investing.
Ans: (A) Producing, exchanging, consuming, saving, and investing.
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $95 each, then at her profit-maximizing level of output, Sarah will earn a ________ of ________ per day.
A. loss; $100 B. profit; $15 C. loss; $15 D. profit; $285
In the figure, the unregulated market equilibrium occurs at a price of ________ a ton and quantity of ________ tons
A) $100; 4,000 B) $150; 2,000 C) $150; 4,000 D) $225; 4,000 E) $100; 2,000
During the post-Civil War debate over resuming the exchange of gold for greenbacks,
a. members of the Greenback party argued the returning to gold was not worth the economic pain. b. Republicans argued that those who had loaned money to the government during the Civil War had the right to be paid in gold. c. Republican argued that due to the Public Credit Act of 1869, bondholders were not required to be paid in gold. d. None of the above is correct. e. Only a and b are correct.
The federal budget deficit in 2009 was more than eight times larger than the deficit in 2007
a. True b. False Indicate whether the statement is true or false