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The Cities of Portland,Oregon,and Minneapolis,Minnesota,are at About the Same Latitude,but

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The cities of Portland,Oregon,and Minneapolis,Minnesota,are at about the same latitude,but Minneapolis has much hotter summers and much colder winters than Portland does.Why? (Portland is near the Pacific Ocean;Minneapolis is near a number of large lakes. )


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Variable Costs

Costs that change in proportion with the level of output or activity.

Fixed Costs

Costs that do not change with an increase or decrease in the amount of goods or services produced or sold.

Corporate Tax Rate

The percentage of a company's taxable income that it pays to federal, state, or local tax authorities.

Demand Shock

An event that affects the demand for goods and services in the economy.

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