What is measured on the vertical axis of the aggregate demand graph?
A) unemployment B) nominal income C) the price level D) real GDP per year
C
Economics
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Suppose a firm's total revenue is $1,000,000. The firm has incurred explicit costs of $750,000
There is also $50,000 of forgone wages by the owner, $10,000 of forgone interest by the owner, $3,000 worth of economic depreciation, and $20,000 worth of normal profit. What is the firm's economic profit? A) $250,000 B) $200,000 C) $190,000 D) $167,000 E) $180,000
Economics
As a currency depreciates:
A) exports increase and imports decrease.
B) exports decrease and imports increase.
C) exports increase and imports increase.
D) exports decrease and imports decrease.
Economics