The Boy Scouts have so far sold 100 tickets for their upcoming raffle, but they sell an additional 12 tickets every day. The ________ is a stock variable, and the ________ is a flow variable.
A. number of tickets sold each day; total number of tickets available
B. total number of tickets sold by the time of the raffle; number of tickets sold each day
C. number of tickets sold each day; number of tickets sold so far
D. number of tickets sold so far; total number of tickets sold by the time of the raffle
Answer: B
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Refer to the scenario above. If Maria's opportunity cost of time increases to $80 per hour, the cost involved in taking the train is:
A) $320. B) $720. C) $800. D) $970.
A firm's average total cost is $100, its average variable cost is $90, and its total fixed cost is $1,000. Its output is
A) less than 70 units. B) between 70 and 120 units. C) between 120 and 170 units. D) more than 170 units.
Under the deficiency payments system, which was used to subsidize grain production?
a. the government purchased all surplus grain and destroys it. b. deficiency payments were increased when farmers cultivated their land more intensively. c. farmers were required to reduce cultivated acreage by 10 percent. d. farmers had a greater incentive to engage in beneficial crop rotation.
Unsold goods are part of the nation's capital stock
a. True b. False