Demand relates the amounts of a good purchased to
A) the amounts actually obtained.
B) the gross domestic product.
C) the quantity needed.
D) the sacrifices required to obtain the good.
E) the time required to produce the good.
D
Economics
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Which of the following is a reason for economies of scale?
A) Fixed costs are spread out as volume increases. B) The law of diminishing returns does not take effect. C) Input productivity increases as a result of greater specialization. D) There is greater savings in transportation costs.
Economics
Jamal earns $160,000 per year and Josephina earns $80,000 per year. If Jamal pays $16,000 in income taxes and Josephina pays $8,000 in income taxes, the income tax system would be
A) regressive. B) progressive. C) proportional. D) marginal.
Economics