Rescooperate ice cream shop recently analyzed their books. they found that in the past year, they made $100,000 selling
ice cream and spent $75,000 on supplies and factory space. the remaining $25,000 represe
o
profit.
loss.
revenue
o
expense.
.

The process of rocks breaking down and becoming other rocks

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment. b. the allocation of resources between private markets and the public sector. c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t. d. differences in productivity. e. ones that think at the margin and respond to incentives and those that don’t.

Which of these would be describing a developed country? a) literacy rate of 84% b) life expectancy of 58 years c) post-secondary education rate of 10% d) infant mortality rate of 3 per 1,000 births