Refer to the above figure. If the farmer has 50 acres of land, the farmer is producing at point a, and an acre of land yields 400 bushels of beans or 800 bushels of wheat, how much land is devoted to the production of wheat?
A. 10 acres
B. 15 acres
C. 12.5 acres
D. 8.5 acres
Answer: C
Economics
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In an economy in with no income taxes or imports, the multiplier equals
A) . B) . C) . D) . E) .
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Refer to the information above. What is the value of the firm's capital stock at the end of period 5?
A) 612.5 B) 106.75 C) 175 D) 89.25
Economics
In most companies, an employee must work for a number of years before qualifying for pension benefits. This process is referred to as:
A. mandatory benefit pending. B. vesting. C. regulated contribution period. D. a defined-benefit period.
Economics
Refer to the graph shown.
If suppliers can reduce output from M to L, the suppliers excluded from the market will lose the producer surplus shown by area:
A. F. B. D. C. E and F. D. E.
Economics