If a firm hires labor for $6,000, pays rent of $2,000, buys raw materials for $10,000 from another firm, earns profits of $800, and sells its output for $25,000, the value added by the firm is _____

Al works as a sales clerk at a department store for a fixed salary of $2,500 per month

He is offered a job as a salesperson at a car dealership in which there is a 50 percent chance that he will make $5,000 a month and a 50 percent chance that he will make only $1,000 a month. The figure above Al's utility of wealth curve: a) What is Al's expected income from the offered job? b) What is Al's expected utility from the offered job? c) Will Al accept the offer? Why or why not? d) What is the minimum fixed salary for which Al will continue to work for the department store and not accept the dealership's offer?

The most common type of macroeconomic imbalance is overly expansionary fiscal policies that create large government budget deficits, often financed by a high growth rate of the money supply

Indicate whether the statement is true or false