Refer to Scenario 7

question 221

Multiple Choice

Refer to Scenario 7.1 below to answer the question(s) that follow.
SCENARIO 7.1: You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year.
-Refer to Scenario 7.1. Your accounting profit last year was

• A) $10,000.
• B) $30,000.
• C) $50,000.
• D) $60,000.

Analyze the impact of fiscal policy decisions in response to unemployment and inflation.

Explain the relationship between government spending, taxation, and national debt.

Identify the effects of government borrowing on interest rates and real GDP.

Recognize how fiscal policy and national debt affect future generations.

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