The data show that more than 60 percent of the total income earned in the United States goes to
A) labor.
B) land.
C) capital.
D) entrepreneurshi
A
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An increase in the price level causes
A) the money demand curve to shift to the left. B) a movement up along the money demand curve. C) a movement down along the money demand curve. D) the money demand curve to shift to the right.
Refer to Scenario 1. What is the total sum of squares?
A) 3860.8 B) 3718.9 C) 141.9 D) None of the above.
A small business owner earns $75,000 in revenue annually. The explicit annual costs equal $40,000. The owner could work for someone else and earn $20,000 annually. The owner's accounting profit is ________ and owner's economic profit is ________
A) $10,000, $10,000 B) $35,000, $10,000 C) $35,000, $55,000 D) $10,000, $55,000
Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $12; AVC = $10; MC = $15; MR = $16. The firm should
A. decrease output. B. increase price. C. change nothing. D. increase output.