Alejandro Scoobertini owns a store specializing in soccer jerseys. In 2012, he purchased $150,000 worth of jerseys from manufacturers, employed one worker for $40,000, purchased $20,000 worth of supplies from an office supply store, and sold jerseys for
$280,000. Based on this information, what was the value added at Alejandro's store in 2012?
A. $70,000.
B. $110,000.
C. $280,000.
D. $490,000.
A. $70,000.
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Refer to the above figure. The points between B and C are known as
A. a peak. B. a trough. C. an expansion. D. a contraction.
What are two main economic objections to the PPACA?
What will be an ideal response?
If two workers can produce 22 units of output, and the addition of a third worker increases output to 30 units, the marginal product of the third worker is:
a. 8 units. b. 10 units. c. 22 units. d. 30 units.
Recall the Application about productivity in the nation of Latvia in the 1990s to answer the following question(s). According to this Application, workers in the European Community were more productive than workers in Latvia in the 1990s, yet despite this, the European Community chose to buy timber from Latvia. If EU governments decide to buy timber only from the European Community, then:
A. its citizens will be better off while their producers may be worse off. B. its citizens and producers will be worse off. C. its citizens and producers will be better off. D. its citizens will be worse off and producers will be better off.