If a single person has a standard deduction of $6,300, itemized deductions of $3,650, and a personal exemption of $4,000, then the first ________ of income is federal income tax free.
A. $13,950
B. $9,950
C. $10,300
D. $7,650
Answer: C
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Use the following graph to answer the next question:
If the firm was operating as a perfectly competitive firm, what level of output would they produce to maximize profits?
A. Somewhere greater than Qc B. Qc C. Qo D. Somewhere between Qc and Qo
At the profit-maximizing level of output for a perfectly competitive firm, price equals marginal cost. Which of the following is also true?
A) Total revenue equals total cost. B) Marginal profit equals marginal cost. C) Average revenue equals average total cost. D) The difference between total revenue and total cost is the greatest.
Bay City Mining, Inc has a price of $20 a share, outstanding shares of 2.5 million, retained earnings of $1 million dollars, and a dividend yield of 2 percent. It has a price-earnings ratio of
a. 50, which is high by historical standards. b. 50, which is low by historical standards. c. 25, which is high by historical standards. d. 25, which is low by historical standards.
How can inventions such as cellular phones affect the government's antitrust policies?
(A) The technology causes the need for stricter regulation than before. (B) Government rules can allow higher charges than competition. (C) People using the technology do not want antitrust regulations. (D) They can mean that the need for regulation no longer exists.