Top of Form 1 . Revenue increases when A. producer surplus increases B. producer surplus decreases C. consumer surplus increases D. consumer surplus decreases Bottom of Form Correct : Producer surplus is the difference between the minimum price the producer is willing to receive and what they actually receive. The surplus is their profit‚ and the larger the surplus‚ the greater their profit on the good. When it decreases‚ the producer receives a price closer to the minimum acceptable. The
Premium Supply and demand Price elasticity of demand
Student Name: Grade: Problem Set 1-A For National Income Accounting and the Balance of Payments Multiple Choice Questions (Please read all the choices) (Each question is 3 points) Mark the correct answer 1) Which one of the following statements is the most accurate? A) GNP plus depreciation is called net national product (NNP). B) GNP less depreciation is called net national product (NNP). C) GNP less depreciation is called net factor product (NFP). D)
Premium Balance of payments Investment Economics
Exam 3 Directions: Identify the letter of the choice that best completes the statement or answers the question. Then mark your response on the answer sheet. Unless otherwise stated‚ demand curves are negatively sloped and supply curves are positively sloped. The midpoint and point formulae for elasticity are‚ respectively: ____ 1. If the government wants to reduce smoking‚ it should impose a tax on a. buyers of cigarettes. b. sellers of cigarettes. c. either buyers or sellers of
Premium Progressive tax Tax Regressive tax
CHAPTER 4 END-OF-CHAPTER QUESTIONS TRUE/FALSE ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER. T 1. Accrual-basis accounting matches the income from the period and the expenses for the period in order to determine the net income or net loss for the period. F 2. In QuickBooks Pro‚ the Journal is called the book of final entry. F 3. An account may be deleted at any time. F 4. In a sole proprietorship‚ an owner=s name is added to the Vendor
Premium Income statement Balance sheet Generally Accepted Accounting Principles
Lab 4: Le Chatelier’s Principle Name: Cammey Mahowald Lab Partners: None Date of Experiment: March 16‚ 2015 Course: CHE 112 Abstract: The purpose of this experiment is to understand the components of a reaction at chemical equilibrium and use Le Chatelier’s principle to predict the direction an equilibrium position will shift upon changes in the concentration‚ temperature‚ and pressure. It was determined that in the equilibrium of chromate and dichromate it is an exothermic reaction and in the
Premium Chemistry Chemical reaction Temperature
Chapter 4 - Risk Management 1. What is risk management? Why is identification of risks‚ by listing assets and their vulnerabilities‚ so important to the risk management process? Risk management is the process of identifying risk‚ as represented by vulnerabilities‚ to an organization’s information assets and infrastructure‚ and taking steps to reduce this risk to an acceptable level. Each of the three elements in the C.I.A. triangle‚ introduced in Chapter 1‚ is an essential part of every IT organization’s
Premium Risk management
Dragon Chapters 3&4 Based on the readings from this week‚ answer the following questions. Remember to follow the format outlined at the beginning of the semester for assignments. Chapter 3 Questions: 1. Athletic trainers and other professionals who work with athletes must know the basic structure and function of tissues so they can understand basic body mechanics. If someone asks an athletic trainer what type of tissue forms the tendons and ligaments of the body‚ what would be the answer? (2 points)
Premium Abdomen Organ Liver
THE FIRM’S BASIC PROFIT MAXIMIZATION PROBLEM Chapter 2 slide 1 What Quantity of Output should the Firm Produce and Sell and at What Price? The Answer depends on Revenue and Cost Predictions. The Solution is Found using Marginal Analysis. Expand an Activity if and only if the Extra Benefit exceeds the Extra Cost. MAXIMIZING PROFIT FROM MICROCHIPS 2.2 A1. Focus on a single Product‚ A2. whose Revenues and Costs can be predicted with Certainty. Revenue can be predicted using the Demand
Premium Economics Costs Variable cost
Economic and Social Problems In The Caribbean Unemployment Globalization has contributed significantly to unemployment in the Caribbean. With the removal trade barriers‚ some industries have not been able to compete globally. The lack adequate skills that are required for the new industrial paradigm for example‚ information technology skills have also contributed to the problem of unemployment. A high level of unemployment among the young people of the Caribbean may results in various social
Premium Population density
was to let everyone know that Christ‚ was the only head of the true church. Ephesians chapter 4: The theme of this chapter is answering Gods calling and anointing on your life. God has given each of us different abilities and talents‚ it is our job to assume that role. How can we do this you may ask? Well God has laid out a blueprint or map for us to stay on track. We must strive to be one with Him and answer his calling on our lives. 1 Walking worthy in the calling or ministry that we were called
Premium Jesus Christianity New Testament