Bill owns a lawn-care company in Windermere, Florida, Florida, whose cost curves are illustrated in the above figure. The market equilibrium price in this perfectly competitive market equals $32 per lawn mowed
If Bill's average total cost curve is ATC, his total economic ________ equals ________. A) loss; $800 per week
B) profit; $1,280 per week
C) profit; $480 per week
D) loss; $1,280 per week
E) profit; $32 per week
C
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If in 2016, a woman made $100,000 on the job, $20,000 from a consulting business she operated, and $10,000 in dividends on stock she owned, she would owe old-age Social Security taxes on
A. $87,000. B. $97,500. C. $130,000. D. $118,500.
A Eurodollar loan is a(n):
a. ECU-denominated loan issued by a U.S. bank. b. dollar-denominated loan payable to a European bank. c. ECU-denominated loan that is subject to banking regulations in both the United States and Europe. d. dollar-denominated loan issued outside the U.S. domestic banking system. e. loan by the European Community to the U.S. government.
Suppose France subsidizes French wheat farmers, while Germany offers no subsidy to German wheat farmers. As a result of the French subsidy, sales of French wheat to Germany
a. may prompt German farmers to invoke the unfair-competition argument. b. increase the consumer surplus of German buyers of wheat. c. increase the total surplus of the German people. d. All of the above are correct.
Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the basket's cost was $77; in 2013, the basket's cost was $82; and in 2014, the basket's cost was $90 . The value of the CPI in 2014 was
a. 109.8 and the inflation rate was 9.8%. b. 109.8 and the inflation rate was 16.9%. c. 116.9 and the inflation rate was 9.8%. d. 116.9 and the inflation rate was 16.9%.