At the beginning of the year, your wealth is $10,000. During the year, you have an income of $90,000 and you spend $80,000 on consumption. You pay no taxes. Your wealth at the end of the year is
A) $20,000.00.
B) $0.
C) $90,000.00.
D) $100,000.00.
A
You might also like to view...
The following table shows the total physical product of labor. Compute the marginal physical product (MPP) of labor and the marginal revenue product (MRP) of labor at output prices of $10 per unit and $12 per unit. If labor costs $105 per unit, how much should the firm hire at each price of output? Total Physical MPP of Labor MRP at a Price of $10 MRP at a Price of $12 LaborProduct of Labor 110_______________222_______________335_______________447_______________558_______________668_______________777_______________885_______________?
What will be an ideal response?
Depreciation of the Japanese Yen would lead to
a. outward shift in the aggregate supply curve for Japan. b. upward shift in the aggregate demand curve for Japan. c. downward shift in the aggregate supply curve for Japan. d. inward shift in the aggregate demand curve for Japan.
Suppose there are two parallel highways between two cities with approximately equal traffic. What would you expect to happen if the state began charging tolls to drive on one of those highways?
A. More drivers would drive on the toll road making the non-toll road less congested. B. Traffic would remain evenly divided between the two roads as drivers continuously sought the less-congested route. C. More drivers would drive on the non-toll road, making the toll road less congested. D. Traffic would decrease on both roads.
When buyers will purchase as much as sellers are willing to sell, what is the condition that has to be reached?
a. supply and demand b. excess demand c. price floor d. equilibrium