Counting the total number of individuals on any assistance program and dividing by the population determine the poverty line.
Answer the following statement true (T) or false (F)
False
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Which of the following statements is true?
A) In a closed economy, government spending equals zero. B) A nation with a high savings rate will accumulate capital rapidly. C) A nation with a high savings rate will accumulate capital slowly. D) In a closed economy, aggregate consumption equals zero.
Is knowledge capital subject to the law of diminishing returns? Explain
What will be an ideal response?
A business owner makes 50 items a day. Each day he/she contributes 8 hours to produce those items. If hired, elsewhere he/she could have earned $10 an hour. The item sells for $10 each. Production does not stop during weekends. If the explicit costs total $10,00 . for 30 days, the economic profit for the month equals:
a. $2,600 b. $2,240 c. $11,760 d. $5,000
Which of the following would decrease aggregate demand?
a) Increased consumption b) Increasing export revenue c) Increased taxation revenue d) Increased investment