Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She earns $10 per hour at a part-time job at the local coffee shop. She can sell a photo frame for $30 each. An economist would calculate the total profit for one photo frame to be

Since Britain withdrew from the ERM in 1992, what has it done with regard to fixing its exchange rates?

A) Britain has joined with the euro, forgoing its long-standing independence. B) Britain has put the pound back on solid footing by backing it with gold. C) Britain has retained its independent pound currency and not joined the currency union of Europe. D) Britain has abandoned its own monetary authority for the certainty of fixed exchange rates with its largest trading partners.

On the graph above, if the U.S. economy is at point B in 2009, then the economy in 2010 is best represented by point ________

A) A B) B C) C D) D E) any of the labeled points is as good as the others