If a firm that makes $100 profit per pair of shoes pays LeBron James $2,000,000 to endorse their basketball shoes, then to make the endorsement pay off they must sell at least:
A. $2,000,000 more in shoes.
B. $20,000 more in shoes.
C. 20,000 more pairs of shoes.
D. 200,000 more pairs of shoes.
Answer: C
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An income tax is a tax:
A. charged on the earnings of individuals and corporations. B. on income earned by buying investments and selling them at a higher price. C. on the wages paid to an employee. D. charged on the value of a good or service being purchased.
The U.S. market for interbank borrowing and lending is called the:
a. Federal funds markets. b. Secondary market. c. Money market. d. Real Goods Market. e. Primary market.
If the total production of final output in a nation is rising and the general price level is also rising, then the nation’s real GDP will be rising faster than its nominal GDP.
Indicate whether the statement is true or false.
Explain what will happen to the equilibrium price and quantity of hybrid automobiles if there are technological advancements in the production of hybrid automobiles while at the same time consumer preference for hybrid automobiles increases
What will be an ideal response?