Key influences on the valuation of economic profits include ________
A) the average level of the prices of goods and services sold
B) the rental price of capital
C) the wage rate
D) all of the above
E) none of the above
D
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If you have $10,000 to start a lawn-cutting business, the interest rate is 4 percent, your cost of equipment is $3,000, and the earnings you sacrifice from working at another job are $32,000, your yearly cost of doing business would be
A) $13,000. B) $13,400. C) $35,400. D) $45,000.
Everything else held constant, an increase in net exports ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
The growth accounting equation suggests that the growth rate of output is equal to the growth rate of ________
A) total factor productivity plus the contributions of both capital and labor B) total factor productivity minus the rate of depreciation C) capital and labor D) the overall population
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. The slope of Country A's production possibilities frontier is _______, and Country B's is __________.
A. 5; 3
B. 30; 3
C. 1/5; 1/3
D. 1/5; 1/3