The _____________ is a measure of the goods and services affordable and available to consumers
a. standard of living
b. level of living
c. consumption standard
d. online consumer survey
B
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A point lying to the northeast of the production possibilities frontier is
A) unattainable. B) efficient. C) inefficient. D) profitable.
Cooperation:
B. is sustained by the promise of punishment for good behavior. C. can be established even if threats/promises are not credible. D. All of these are true about cooperation.
Ed Van Zaig is considering opening a sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building he owns and currently rents for $6,000 a year. His costs at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What is the minimum revenue he must earn per year in order for it to be worth his while to open his sushi
bar? a. $26,000 b. $66,000 c. $78,000 d. $52,000 e. $72,000
The Compagnie Naturelle sells mounted butterflies, using butterfly bait it buys from another firm for $20,000. It pays its workers $35,000, pays $1000 in taxes, and has profits of $3000. What is its value added?
A. $19,000 B. $39,000 C. $59,000 D. $3000