Recall the Application about the impact inflation has on your potential future salary and the repayment of student loans to answer the following question(s).According to this Application, if you earn a salary of $40,000 in the first year and all prices (including your salary) triple in the next 10 years, what will your nominal annual salary be in 10 years?
A. $20,000
B. $60,000
C. $120,000
D. $180,000
Answer: C
Economics
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A private cost is a cost of production that is borne by the
A) consumer of the good. B) producer of the good. C) government. D) consumer of the good and the government.
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A firm's total cost of production is
a. the owners' opportunity cost b. labor costs plus the cost of materials c. the payments for its inputs d. depreciation plus payments for inputs e. taxes plus depreciation plus payments for inputs
Economics