Refer to the table above. Eduland has a comparative advantage in ________ shoes
A) both designing and stitching B) designing
C) shutting its factory D) stitching
B
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Which of the following transactions would take place in the underground economy?
A) Samuel tells his wife he is going to work but really goes to the local casino. B) Tanisha bought a tablet computer for $269 but decided to sell it to her sister instead of keeping it. C) Laurie buys a case of wine at a liquor store, not realizing that 15% of the purchase price goes to the government as tax revenue. D) Bailey makes beef jerky and sells it at a local flea market for cash to avoid paying taxes.
The total cost of producing one unit of output is $200; two units cost $300, three units $450, and four units $800. Fixed cost is $50. Draw the associated total cost, average cost, and marginal cost curves, placing total cost on one graph and marginal and average cost on a second graph.
What will be an ideal response?
Which of the following does not appear in GDP as a part of government spending?
A. Clipboards at the Department of Motor Vehicles. B. Maintenance of government buildings. C. Social Security payments. D. City fireworks displays on the Fourth of July.
In the following index: 2003 = 123.3; 2004 = 145.3; 2005 = 111.4; 2006 = 100; 2007 = 94.3, what is the rate of change from 2006 to 2007?
a. 5.7% b. 5% c. 4.3% d. 2.5% e. unable to determine