The Survey Results from the National Association of Colleges and Employers

question 120

Multiple Choice

The survey results from the National Association of Colleges and Employers (NACE) show the average annual increases in salaries for new accounting graduates to be 3.42% since the year 2000.If new starting salaries in accounting were $36,919 in 2000,what were they in 2011?

• A)$45,757
• B)$46,718
• C)$53,444
• D)$42,617

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Definitions:

Optimal Quantity

The quantity of a good or service that maximizes a firm's profits or an individual's utility, based on cost and benefit analysis.

Marginal Curve

A graphical representation of the marginal cost, marginal revenue, or marginal benefit of producing additional units of a good or service.

Marginal Cost

The extra expenditure involved in creating one additional unit of a product or service.

Gadgets Production

The manufacturing process of creating small electronic devices designed for a particular purpose or function.