In 1973, ____ out of 7 Americans worked in manufacturing, but by 1996, just ____ in 7 did.
Fill in the blank(s) with the appropriate word(s).
2; 1
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Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. For Pat to earn normal profit, Pat's accounting profit would have to be ________.
A. 0 B. $35,000 C. $50,000 D. $15,000
If the quantity of Good Y is measured on the vertical axis, the quantity of Good X is measured on horizontal axis, the price of Good X is $50, the price of Good Y is $20, and the budget is $500, the vertical intercept of the budget line is
A. 25, the horizontal intercept is 10, and the slope is -0.4. B. 20, the horizontal intercept is 50, and the slope is -0.4. C. 10, the horizontal intercept is 25, and the slope is -2.5. D. 50, the horizontal intercept is 20, and the slope is -2.5.
The problem of overfishing in waters that are commonly owned can be solved by
A) the use of the Coase Theorem. B) establishing property rights for fishing in the waters. C) subsidizing fishing. D) allowing the market to ration fish.
What are two affiliates of the World Bank? What do they do?
What will be an ideal response?