Econ test 1

Econ test 1 - In economics, the revenue of a firm is equal...

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In economics, the revenue of a firm is equal to: Profit plus the cost of land, labor, and capital Which of the following is not considered to be investment in the discipline of economics? A) The purchase of 100 shares of Microsoft stock by a person in a household. B) B) The purchase of $10,000 worth of Delta Airlines corporate bonds by a person in a household. C) The purchase of a John Deere tractor by a cotton farmer that owns a profitable cotton-producing farm. D) A and B above. E) A, B, and C above B. The purchase of $10,000 worth of Delta Airlines corporate bonds by a person in a household. What would happen in the Tempe pizza market if there were a technological improvement in the production process of pizza, while at the same time there was an increase in the incomes of pizza consumers in Tempe, and pizza is a nominal good? The quantity of pizzas purchases increases; the change in the price of pizzas in uncertain. Which nation has the world’s largest economy? United States Of the three types of businesses in the U.S., sole proprietorships, partnerships, and corporation, which type of business earns the lowest profit rate , that is, for each $100 of sales, or revenue, which has the lowest dollar- amount of profit? (A 10 percent profit rate means for each $100 of sales, $10 of profit is earned.) Corporations
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The successful development of a low-cost synthetic fuel, such as ethanol from corn, would be expected to affect the market for crude oil in which of the following ways? A) Decrease the demand for oil. B) Decrease the price of oil. C) Decrease the quantity supplied of oil. D) Decrease the equilibrium quantity of oil produced and purchases. E) All of these. ________ account for the largest share of total revues, but
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Econ test 1 - In economics, the revenue of a firm is equal...

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