Suppose all of the major computer manufacturers announced that beginning next month there would be major price reductions on their computers. This would cause the current demand for computers to:
a. increase. b. decrease.
c. remain unchanged. d. increase and then decrease.
b
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GATT stands for:
a. Good and Total Trade. b. General Agreement on Tariffs and Trade. c. Greater Agreements Toward Trade. d. Gold and Trade Totals. e. Greater Area Trade Transactions.
The BEA is the
A. Bureau of Educational Administration. B. Bureau of Educational Analysis. C. Bureau of Economic Alliances. D. Bureau of Economic Analysis.
Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubled her workers to 2, and grew 4,500 pounds of herbs
She sells her rare, organic herbs for $50 a pound. She pays her workers $25,000 a year and rents her land for $100 per square foot for a year. These are her only costs. a) What was Ayanna's total cost last year and this year? b) What was Ayanna's average total cost last year and this year? c) Did Ayanna experience economies or diseconomies of scale?
Refer to the information above. In which period does gross investment reach its peak?
A) 1 B) 2 C) 3 D) 4 E) 5