The most volatile part of wealth is:
a. transfer payments
b. bonds
c. the stockmarket
d. savings accounts
c
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A survey of income by county revealed that four of the five wealthiest counties were located in the suburbs surrounding Washington, D.C. Why?
If the federal government were to run a budget surplus, this would
a. increase the size of the national debt. b. reduce the size of the national debt. c. leave the size of the national debt unchanged. d. decrease the national debt only if the government also reduces the supply of money.
The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each.Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 100 pizzas per day, it earns an economic ________ of ________.
A. loss; $500 B. loss; $650 C. profit; $650 D. profit; $1,150
Total profit is maximized at the output level at which the:
A. area between the total revenue and total cost curves is greatest. B. vertical distance between the total revenue and total cost curves is minimized. C. total cost and total revenue curves intersect. D. vertical distance between the total revenue curve and the total cost curve is maximized.