"Underground" economic activity can best be described as
a. the construction of subway transportation.
b. the building of foundation structures for skyscrapers.
c. the mining and oil industries.
d. barter or cash activity that is not reported as income.
d
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In 2002, the United States contained around _____ governmental units at all levels
a. ninety thousand b. twelve thousand c. fifty d. five hundred and thirty-five
The value added approach involves adding up the value of the final product and the value of intermediate goods used in the production process
a. True b. False Indicate whether the statement is true or false
Imagine that the federal government increases the minimum wage over the 2014 level. How would this action affect the graph?
a. WMIN would go lower, thereby increasing the labor surplus.
b. WMIN would go lower, thereby decreasing the labor surplus.
c. WMIN would go higher, thereby increasing the labor surplus.
d. WMIN would go higher, thereby decreasing the labor surplus.
The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each.Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 125 pizzas per day, its total revenue is ________.
A. $1,250 B. $125 C. $20 D. $2,500