If the selling price of a firm's product is $500 and the estimated average cost of producing this product is $400, what is the firm's markup?

When calculating the factors which have led to economic growth over the last century, technological change is calculated as:

A. the rate of change of the capital-output ratio. B. the increased productivity of capital. C. a residual, inferred as the leftover growth after accounting for the contributions of other factors. D. the ratio of the marginal products of capital and labor. E. the rate of growth of the output to land ratio.

Taxes and transfers in the United States

A) shift the Lorenz curve inward. B) shift the Lorenz curve outward. C) cancel out so that the Lorenz curve does not shift. D) shift the Lorenz curve inward at low incomes, outward at high incomes.