If the average worker's productivity is $12 per hour and the labor force is employed for 600 billion hours, GDP is equal to
A. $612 billion.
B. $50 billion.
C. $588 billion.
D. $7.2 trillion.
Answer: D
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Jaime's father gives her a pen for her graduation from college, but Jaime wants a smartphone. This implies that
A) Jaime's father is not acting out of self-interest because he knows that she really wants a smartphone. B) Jaime's father is acting out of self-interest because he wants to give her something useful. C) Jaime is not acting out of her self-interest by wanting something different from what her father gives her. D) Jaime is not rational by asking for a smartphone instead of a pen.
Generally, as a movie theater adds more screens its average costs fall. The movie theater can be said to experience
a. declining profit b. higher prices c. diseconomies of scale d. economies of scale e. diminishing marginal returns
Are property taxes progressive or regressive?
What will be an ideal response?
When disposable income is 1000, how much is consumption?
