If an industry has 25 firms that collectively have $150 million in total sales and the top three firms in this industry account for $78 million in sales and the fifth through twenty-fifth firms account for $60 million in sales, what is the amount of sales for the fourth largest firm?
A. $18 million
B. $6 million
C. $12 million
D. none of these
Answer: C
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Saving is S, investment is I, net taxes is NT, government expenditure is G, exports is X, and imports is M. Using these symbols, what is the relationship among the saving, investment, net taxes, government expenditure, exports, and imports?
What will be an ideal response?
A vertical demand curve has an elasticity of demand equal to zero.
Answer the following statement true (T) or false (F)
A program likely to make a big dent in chronic poverty is:
A. health insurance. B. unemployment insurance. C. job training. D. none of the above are likely to be effective in reducing chronic poverty.
Changes in which of the following shifts the supply curve of hamburgers?
A) a rise in the price of soda, a complement for hamburgers B) new research that establishes a link between hamburgers and heart problems C) an increase in the price of meat used to produce hamburgers D) an economy-wide decrease in income because of a long recession