If a firm manager has a base salary of $50,000 and also gets 2 percent of all profits, how much will his/her income be if revenues are $8,000,000 and profits are $2,000,000?
A. $90,000
B. $210,000
C. $250,000
D. $150,000
Answer: A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
The nominal wage rate is the
A) minimum hourly wage that a company can legally pay a worker. B) average hourly wage rate measured in the dollars of a given reference base year. C) minimum hourly wage rate measured in the dollars of a given reference base year. D) average hourly wage rate measured in current dollars. E) wage rate after inflation has been adjusted out of it.
Which statement is most likely true about the demand curve in the graph?
A. Point R is unit elastic, while point S is very inelastic.
B. Point T is very inelastic, while point Q is very elastic.
C. Point Q is very inelastic, while point T is very elastic.
D. Point Q is slightly elastic, while point S is very inelastic.
Refer to the information provided in Figure 23.7 below to answer the question(s) that follow.
Figure 23.7Refer to Figure 23.7. In Ichabodia, planned investment varies directly with income. Ichabodia's planned investment function is represented by
A. Panel A. B. Panel B. C. Panel C. D. Panel D.