Suppose a fishing boat currently brings 10,000 fish to market each day and earns a profit of $40,000 when the price of fish is $12 . Suppose that there are 100 workers on the boat, and each works 10 hours each day. If their health insurance premiums, paid by the boat owner, increase by $80 per worker, what will the new profit be?
a. $80,000
b. a loss of $40,000
c. $48,000
d. $32,000
e. a loss of $760,000
D
Economics
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The abbreviation GATT stands for:
a. General Analysis of Taxes and Transfers. b. General Agreement on Tariffs and Trade. c. Government Agency for Trade and Transportation. d. Government Agency for Treaties and Taxes. e. General Agreement on Terms of Trade.
Economics
According to Figure 12.1, if the economy moves from point C to point A because of increased government spending, the amount of private spending crowded out is equal to the distance
A. BD. B. BC. C. AB. D. AC.
Economics