Suppose a firm manager has a base salary of $75,000 and earns 1.5 percent of all profits. Determine the manager's income, if revenues are $10,000,000 and profits are $5,000,000.
A. $300,000
B. $225,000
C. $75,000
D. $150,000
Answer: D
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The main reason that hyperinflation renders a currency worthless is that ________
A) the government cannot print money fast enough to keep up with the rising prices B) laws against raising prices are easily evaded C) reducing government expenditures is politically unpopular D) the government's "official" inflation rate is always a gross understatement E) as soon as inflation seems out of control, everyone knows that the currency will soon lose whatever value it has today
Increased productivity in the agricultural sector during much of the twentieth century shifted the
A) demand curve for farm products rightward. B) supply curve of farm products leftward. C) demand curve for farm products leftward. D) supply curve of farm products rightward.
Which of the following actions has no effect on the total money supply?
A. There is a transfer of deposits from one bank to another bank. B. There is change in the money multiplier. C. The Federal Open Market Committee buys government securities. D. The Federal Open Market Committee sells government securities.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced. B. overallocation of resources. C. an impossible production point. D. technological advancement.