What is an income statement?
What will be an ideal response?
An income statement is a financial statement that shows a firm's revenues, costs, and profit over a period of time.
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Which of the following correctly identifies a method to restore an economy to full employment, if it is operating below full employment due to a decrease in net exports?
A) Reduce the interest rate. B) Increase the real exchange rate. C) Reduce the investment in the economy. D) Reduce the demand for goods and services in the economy.
Both real GDP and price level in the U.S. exhibited a downward trend since 1929 . Real GDP in 2009 was ten times lower than in 1929, and the price level was nearly five times lower
Indicate whether the statement is true or false
The double dividend of corrective taxes consists of ______.
a. eliminating regulations and boosting output b. increasing production and lowering prices c. taxing the harm and raising revenues d. closing down firms and prosecuting polluters
If the production function is Q = K.5L.5 and capital is fixed at 1 unit, then the average product of labor when L = 25 is:
A. 10. B. 1/5. C. 2/5. D. None of the answers are correct.