Today farms with sales of more than $250,000 a year account for about _____ percent of all agriculture sales.
A. 5
B. 25
C. 50
D. 75
D. 75
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Consumer confidence is measured by two indices: the Consumer Sentiment Index and the Consumer Confidence Index
Indicate whether the statement is true or false
Compared to the profit-maximizing outcome, average cost pricing in natural monopoly leads to
a. all of the following b. a higher price c. decreased consumer surplus d. the elimination of economic profit e. less output
Which of the following incurs a primarily pecuniary cost?
a. a factory’s smog obscuring the sunset b. a defective product causing a fire that burns a house c. noise from a warehouse making neighbors nervous d. the smell from a dogfood factory permeating a neighborhood
Exhibit 9-1 GDP and consumption data GDP Consumption Aggregate Expenditures Unplanned inventory $0 $0.5 1 1.0 2 1.5 3 2.0 4 2.5 5 3.0 6 3.5 7 4.0 8 4.5 As shown in Exhibit 9-1, if equilibrium GDP is $5 trillion, then the total of investment, government spending, and net exports is:
A. $1 trillion. B. $2 trillion. C. $3 trillion. D. $4 trillion.