Lump sum taxation is an attractive policy tool.
A. True
B. False
C. Uncertain
B. False
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When auto workers go on strike at many of the "Big 3" plants around the United States, the supply of American automobiles
A) increases, which is represented by a leftward shift in the supply curve. B) increases, which is represented by a rightward shift in the supply curve. C) decreases, which is represented by a rightward shift in the supply curve. D) decreases, which is represented by a leftward shift in the supply curve. E) remains the same; only quantity supplied changes.
How is total revenue calculated? If a firm sells 350 units of a product at a price of $8 each, what is the firm's total revenue?
What will be an ideal response?
During a year of operation, a firm collects $450,000 in revenue and spends $100,000 on labor expense, raw materials, rent, and utilities. The firm's owner has provided $750,000 of her own money form her personal portfolio instead of investing the money and earning a 10% annual rate of return. The firm also operates out of a building they own worth $1,000,000 which the owner inherited 25 years ago.
1.The explicit costs of the firm are $______________. 2. If the owner could earn 15% annually on the money she has invested in the firm, the economic profit of the firm would be ______________ (when revenue is $450,000). 3. The implicit costs are $______________. 4. The firm's accounting profit is $______________. 5. The firm earns an economic profit of $______________.
The unemployed who quit their jobs, were fired for cause, or just entered the labor force are not eligible for unemployment insurance
a. True b. False Indicate whether the statement is true or false