Which of the following allows us to compare average levels of real production per person in different nations in a way that adjusts for differences in true costs of living?
A. per capita nominal GDP based on foreign exchange rates
B. nominal GDP based on purchasing power parity
C. per capita real GDP based on purchasing power parity
D. real GDP based on foreign exchange rates
Answer: C
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A firm produces 500 units per week. It hires 20 full-time workers (40 hours/week) at an hourly wage of $15 . Raw materials are ordered weekly and they costs $10 for every unit produced. The weekly cost of the rent payment for the factory is $2,250 . How do the overall costs breakdown?
a. total variable cost is $17,000 . total fixed cost is $2,250; total cost is $19,250 b. total variable cost is $12,000 . total fixed cost is $7,250; total cost is $19,250 c. total variable cost is $5,000 . total fixed cost is $14,250; total cost is $19.250 d. total variable cost is $5,000 . total fixed cost is $2,250; total cost is $7,250
In reality, commercial banks function most like ____ of the district Federal Reserve Banks
a. stockholders b. regulators c. customers d. competitors