Ray Tucker has run his company, Tucker's Towing and Wrecking, for two years and has made an accounting profit of $34,000 each year. As long as Tucker's Towing continues to make accounting profits, it is rational for it to remain in the towing business
a. True
b. False
Indicate whether the statement is true or false
False
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Anna gives Billy a gift of $200. We can be sure that Billy will
A) spend the $200 on what Anna hopes that he will spend it on. B) save the $200, and not spend it on anything. C) spend the $200 on whatever is next on Billy's list of things to buy. D) spend the $200 on something that Anna does not want him to spend it on.
People who are only working part-time, but want to be working full-time, are classified officially as:
A. unemployed and in the labor force. B. unemployed and out of the labor force. C. employed and in the labor force. D. employed and out of the labor force.
If the total utility derived from consuming three oysters was 50 utils and the total utility derived from consuming four oysters was 62 utils, what was the marginal utility derived from the consumption of the fourth oyster?
A. 52 utils B. 112 utils C. 12 utils D. It is impossible to determine.
When the amount of output produced by a given amount of inputs increases, the MOST LIKELY result is
A) overall productivity rises. B) economic interdependence rises. C) consumer spending on productive resources increases. D) business spending on productive resources increases.