Compensation of employees is the largest component of national income.
Answer the following statement true (T) or false (F)
True
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Refer to the scenario above. If Jack has to decide between the number of paintings and sculptures he wants to make in the given time, which of the following will best represent his options?
A) A budget constraint B) Isoquants C) A production possibilities curve D) A supply curve
Label each entry in the list as dealing with a microeconomic topic or a macroeconomic topic. Explain your answer
What will be an ideal response?
Ray’s Barbecue produces about 200 slabs of barbecued ribs per day. The price that Ray pays for each slab of ribs rises by 10 and the rent on Ray’s restaurant location rises by 5 percent increase. Marginal cost will increase as a result of
A. only the increase in the rent paid by Ray. B. only the increase in the price that Ray pays for slabs of ribs. C. the increase in the rent paid by Ray and the increase in the price of slabs of ribs. D. neither of the increases in the prices.
In a fixed exchange rate system, an increase in the exchange rate at which a currency is pegged is called a(n):
A. appreciation. B. devaluation. C. revaluation. D. depreciation.