« previous next »

Author Question: Two friends, Diane and Sam, own and run a bar. Diane tends bar on Monday, Wednesday, and Friday and ... (Read 112 times)

sheilaspns

  • Hero Member
  • *****
  • Posts: 567
on: Jun 30, 2018
Two friends, Diane and Sam, own and run a bar. Diane tends bar on Monday, Wednesday, and Friday and receives a wage in addition to tips. Sam tends bar on Tuesday, Thursday, and Saturday and receives only tips. Which of the following represents an implicit cost of operating the bar?
 a. Diane's wage.
  b. Sam's time.
  c. Diane's tips.
  d. Sam's tips.
  e. Both Diane's and Sam's tips.

Question 2

Which of the following statements regarding the gross domestic product is true?
 a. It is useful in comparing the overall performance of different economies at the same time.
 b. It measures aggregate income in an economy over a period of ten years.
 c. It measures the value of all goods and services produced in the world during a given period.
 d. It is a measure of an economy's price level during a particular year.
 e. It records the cumulative value of all goods and services produced by domestically owned factors of production.


abctaiwan

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

sheilaspns

  • Hero Member
  • *****
  • Posts: 567
Reply #2 on: Jun 30, 2018
Correct answers!


abctaiwan

  • Sr. Member
  • ****
  • Posts: 355
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Best Friends Best Friends
Joe Cocker - With a Little Help From My Friends Joe Cocker - With a Little Help From My Friends
The “Flat Head” (Chinook) Indians acquired their name through shaping in infancy, as shown in a diag The “Flat Head” (Chinook) Indians acquired their name through shaping in infancy, as shown in a diag
In early industrialization, children worked alongside adults. They worked 12 hours a day Monday to ... In early industrialization, children worked alongside adults. They worked 12 hours a day Monday to ...
Food, friends, and football . . . a way of life Food, friends, and football . . . a way of life
FRIDAY STUDYING SUNDAY SATURDAY AFTER MIDNIGHT FRIDAY STUDYING SUNDAY SATURDAY AFTER MIDNIGHT
Video: Regulation of GFR: autoregulation via tubuloglomerular feedback, neural & hormonal regulation

For a complete list of videos, visit our video library