The share of total income for "capitalists" in America (in the form of rent, interest, and profits) has been about:
A. 20 percent
B. 40 percent
C. 50 percent
D. 75 percent
A. 20 percent
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? Output (units) 0 1 2 3 4 5 Total Revenue ($) 0 9 16 21 27 31 Total Cost ($) 10 12 15 19 26 35To maximize its profits, the firm described in Table 8-1 should produce ____ unit(s) of output.
A. 1 B. 2 C. 3 D. 4
A renewable resource:
A. can be replenished naturally over time. B. is used to regenerate an old piece of capital. C. is used when adopting new technology, and replacing old capital. D. cannot be replenished naturally over time.
Suppose the market consists of 3 individuals: Citizen A, Citizen B and Citizen C. If the good shown on the graphs is a public good, and the marginal cost of providing each unit is constant and equal to $5, then what is the optimal quantity of the public good?
A. 50 units B. 30 units C. 20 units D. 40 units
If personal income is $700 billion and personal income taxes are $140 billion, the value of disposable personal income is
A. $560 billion. B. $630 billion. C. $640 billion. D. $840 billion.