Twenty years ago, a family purchased a vacant lot for $26,500. they made no improvements during the time they owned the property. recently, they sold the lot for $62,275. what was their percentage of gross profit?

The government would be running a budget surplus if a. tax revenues were less than government spending. b. government spending were lower than consumer spending. c. it imported less from abroad than it exported. d.

Suppose a state passes a minimum wage law that increases the minimum wage from $5/hour to $20/hour. The equilibrium wage prior to the minimum wage hike was $10/hour. Which of the following is likely to result from the minimum wage? a.

On January 1, 2017, Dagwood Company purchased at par 6% bonds having a maturity value of $300,000. They are dated January 1, 2017, and mature January 1, 2022, with interest received on January 1 of each year.

In which of the following cases will the effect on equilibrium output be indeterminate (i. e., depend on the magnitudes of the shifts in supply and demand) ? a. Demand increases and supply increases b. Demand decreases and supply decreases c.

In every economic system, scarcity imposes limitations on a. households, business firms, governments, and the nation as a whole b. households and business firms, but not the governments c.

In the current year, Generous University awarded scholarships to graduate students in the amount of $5,000,000. The recipients are not required to provide any services in return for the scholarships. How should the university record the award?

Suppose that in 1984 the total output in a single good economy was 12,000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $16.

European interest in the Middle East intensified after oil was discovered in the region. a. True b. False

What type of marketing channel would Secure Insurance use if it offers its products exclusively through door-to-door salespersons?

Travis is employed in a logistics company. How can he best avoid workplace hazards? A. by staying seated at his desk B. by avoiding hazardous work C. by wearing safety goggles D. by maintaining an uncluttered workplace E.