Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. What was the total revenue for this company?
A. $2,850,000
B. $375,000
C. $3,525,000
D. $3,150,000
Answer: C
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As a result of the housing-market crash:
A. both aggregate demand and aggregate supply shifted to the left. B. both aggregate demand and aggregate supply shifted to the right. C. aggregate demand shifted to the left, and aggregate supply shifted to the right. D. aggregate demand shifted to the right, and aggregate supply shifted to the left.
On a one-dollar bill the letter in the middle of the seal indicates the
a. currency printing batch b. year of planned removal from circulation c. district bank issuing the bill d. legal reserve requirement e. type of paper used
Which of the following statements regarding the consumer price index and the GDP deflator is correct?
a. The two price measures are always equal. b. Divergence between the two price measures is the rule, not the exception. c. Divergence between the two price measures is the exception, not the rule. d. None of the above is correct.
The price of a gallon of gasoline at the pump increased by 5 percent at the same time that the inflation rate was also 5 percent. The nominal price of gasoline ________, and the real price of gasoline ________.
A. did not change; increased B. increased; did not change C. did not change; did not change D. increased; decreased