In 1962, Social Security and Medicare combined made up less than ______ percent of GDP.
a. 1
b. 5
c. 8
d. 10
a. 1
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Computers are a complement to computer software. Suppose the price of a computer falls. Simultaneously, suppose that the number of companies selling computer software decreases
How do these changes affect the price and quantity of computer software?
Why did the interest rate volatility of the 1970s spur financial innovation?
What will be an ideal response?
A firm produces 500 units per week. It hires 20 full-time workers (40 hours/week) at an hourly wage of $15 . Raw materials are ordered weekly and they costs $10 for every unit produced. The weekly cost of the rent payment for the factory is $2,250 . How do the overall costs breakdown?
a. total variable cost is $17,000 . total fixed cost is $2,250; total cost is $19,250 b. total variable cost is $12,000 . total fixed cost is $7,250; total cost is $19,250 c. total variable cost is $5,000 . total fixed cost is $14,250; total cost is $19.250 d. total variable cost is $5,000 . total fixed cost is $2,250; total cost is $7,250
Refer to Scenario 3.2 below to answer the question(s) that follow.SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.Refer to Scenario 3.2. The floods that destroyed part of the lettuce crop would have caused
A. an increase in the quantity of tomatoes demanded. B. a decrease in the demand for tomatoes. C. an increase in the demand for tomatoes. D. a decrease in the quantity of tomatoes demanded.