Total revenue is:
A. the amount that a firm spends on all inputs that go into producing a good or service.
B. the quantity sold multiplied by the price paid for each unit.
C. the quantity produced multiplied by the cost of producing each unit.
D. the amount that an individual gets paid over a specified period of time, typically annually.
B. the quantity sold multiplied by the price paid for each unit.
You might also like to view...
A Turkish company exchanges liras for dollars and then uses the dollars to purchase medical equipment from a U.S. company. These transactions
a. increase U.S. net exports, and increase Turkish net capital outflow. b. increase U.S. net exports, and decrease Turkish net capital outflow. c. decrease U.S. net exports, and increase Turkish net capital outflow. d. decrease U.S. net exports, and decrease Turkish net capital outflow.
Since the cost of using more of any resource is ________, viewing any resource's price as zero leads to ________.
A. negative; overutilization B. positive; overutilization C. positive; underutilization D. positive; a surplus
If you purchased shares of common stock in 1990 for $1,000 and sold them for $2,000 in 2001 you would be liable for taxes on
A. $2,000. B. $1,000 less the rate of inflation. C. $1,000. D. $2,000 less the rate of inflation.
During the Great Depression of the 1930s, U.S. real GDP fell by about ____ percent, in comparison to the ______ percent decline during the Great Recession of 2007-09.
A. 27; 3.7 B. 10; 7 C. 25; 20 D. 25; 30