In which of the following countries did exports account for the biggest percent of GDP in 2011?
A. Japan
B. United States
C. Netherlands
D. Germany
C. Netherlands
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Which of the following is not an advantage cost-plus pricing?
A) It leads to profit maximization. B) It could lead to price stability if the industry is made up of identical firms all using the same method of pricing. C) It is an easy method to implement if a firm produces multiple products and has overhead costs that are difficult to allocate to a particular good. D) It is easy to justify price increases when total costs of production increase.
A sales tax is
A) a tax assessed on personal income. B) a tax assessed on the prices paid for numerous goods and services. C) a tax assessed on a public good. D) the total tax base.
If this firm produces at its most efficient output level it would produce at about _____ units.
A. 150
B. 200
C. 250
D. 300
A firm's demand for labor is derived from the:
A. opportunity costs associated with labor and leisure. B. demand for its output. C. desires and needs of the entrepreneur. D. cost of labor inputs.