Ron owns a mineral water plant that was set up with an initial investment of $4,000 . Each bottle of mineral water produced costs Ron $0.80 . In the month of January, Ron's firm sold 3,000 bottles of water at $1.80 per bottle. The accounting profit made by Ron in January was:
a. $3,000
b. $3,200.
c. ?$1,200.
d. ?$1,000.
a
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Which one of the following resources is not underemployed?
A. The use of Manhattan Island in New York City for growing corn. B. The use of farmland in the Iowa and Illinois corn belt for buildings to do stock market research. C. An automobile factory that is shut down for two months to be retooled for a model change. D. Limiting all men to the fields of school teaching and social work.
The Consumer Price Index includes
A. the top selling 50 goods and services each month. B. all of the goods and services produced in the economy. C. only goods and services produced domestically. D. goods and services from 8 major categories.
Competition has driven the economic profits in the video rental business to zero. Surya Bacha, who owns a video rental business, would be better off leaving the industry for another alternative
Indicate whether the statement is true or false
From the perspective of households the uses of income are
A) taxes, saving, consumption of domestically produced and imported goods. B) taxes, investment, consumption of domestically produced and imported goods. C) taxes, saving, consumption, exports, and imports. D) None of the above.