Land is a resource category that includes timber growing on the land
Indicate whether the statement is true or false
T
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One difference in the creation of a corporation as opposed to other forms of business is that a corporation
a. requires the receipt of a state charter b. must receive a federal charter c. must have at least 10 employees d. must operate in at least two states e. must produce at least two products
The most important determinant of a household's consumption spending is
a. its disposable income
b. the in-kind transfers received by the household.
c. the level of education of the members of the household.
d. the interest rate.
e. the ratio of wage to non-wage income of the household.
Individuals
A. are too small to matter in macroeconomic decision making. B. need to participate in a democracy. C. make up the government. D. are too small to matter in macroeconomic decision making and need to participate in a democracy. E. need to participate in a democracy and make up the government.
Refer to the accompanying graph. If this firm is a price taker, then when the price of each unit of output is $30, this firm's total cost at its profit-maximizing level of output is ________.
A. $2,700 B. $1,200 C. $900 D. $1,600