Which of the following cannot be determined on the basis of the above regression results?
A) the degree of price elasticity of good B
B) whether or not good A is "normal"
C) the degree of competition between A and B
D) All of the above can be determined.
A
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Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from his uncle, whom he pays 3 percent interest per year. Last year Walter paid $25,000 for supplies and had revenue of $60,000 . Walter asked Tyler the
accountant and Greg the economist to calculate his painting business's profit. a. Tyler says his profit is $25,900, and Greg says his profit is $66,500. b. Tyler says his profit is $35,000 . and Greg says he lost $5,900. c. Tyler says his profit is $34,100, and Greg says he lost $6,500. d. Tyler says his profit is $34,100, and Greg says his profit is $34,100.
Which of the following arguments contends that certain industries need to be protected in the interest of national security?
A. The increased domestic employment argument. B. The cheap foreign labor argument. C. The diversification-for-stability argument. D. The military self-sufficiency argument.