The Production Cost of an Automobile Component Is $45

question 118

Multiple Choice

The production cost of an automobile component is $45. The producer takes a 10 percent markup and sells the product to the wholesaler. What is the wholesaler's cost?

• A) $45
• B) $5
• C) $10
• D) $50
• E) $60

Differentiate between the economic policies advocated by different schools of economics.

Analyze the implications of economic theories on fiscal and monetary policy.

Understand the concepts of rational expectations and their impact on policy effectiveness.

Grasp the fundamentals of supply-side economics, including the role of tax rates.

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Definitions:

Forged Check

A check that has been illegally altered or signed by someone other than the account holder, without authorization.

Bank Statement

A summary issued by a bank detailing all transactions in an account over a specific period of time.

Responsibility

The state or fact of having a duty to deal with something or of having control over someone, often involving ethical or moral obligations.

$100 Check

A written, dated, and signed instrument that directs a bank to pay a specific sum of money, in this case, one hundred dollars, to the bearer or to a specified person.