Refer to the table below. An output level of 25 units, this firm's accounting profit is ________, and its economic profit is ________.QuantityTotal RevenueExplicit CostsImplicit Costs1050365157563620100937251251258301501619
A. $125; zero
B. zero; $8.
C. $125; $113
D. zero; -$8
Answer: D
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The 1920s were characterized by large numbers of bank failures each year, especially among country banks. Country banks were particularly inclined to fail because:
a. they tended to open too many branches. b. they were not allowed to issue checking accounts. c. they were not allowed to join the Federal Reserve system. d. farm mortgages constituted the major portion of their loans. e. All of the above.
A ration coupon limits how much a producer can produce
Indicate whether the statement is true or false
When a tax is regressive, as a person's income rises, the tax rate
a. remains unchanged b. decreases c. increases d. becomes the head tax rate e. becomes the excise tax rate
Government spending on public education has
A. increased steadily since the 1920s. B. remained at roughly 1.2 percent of GDP since the 1920s. C. remained at roughly 4 percent of GDP since the 1970s. D. decreased steadily since the 1920s.