Jose has a job making furniture. He is paid $40,000 a year. He is thinking about quiting his job to start his own business. His business would have revenue of $90,000 a year, and expenses of $60,000 a year Will he gain by making this change in his life? O Yes, he will gain because $90,000 is more than $40,000 O No, he will lose, because after he pays his expenses he would have a profit of only $30,000, which is less than the $40,000 he is paid working O We cannot know if he would gain or not, because we do not know the inflation rate O it does not matter if Jose gains or not. The only thing that matters is his feelings
Jose has a job making furniture. He is paid $40,000 a year. He is thinking about quiting his job to start his own business. His business would have revenue of $90,000 a year, and expenses of $60,000 a year Will he gain by making this change in his life? O Yes, he will gain because $90,000 is more than $40,000 O No, he will lose, because after he pays his expenses he would have a profit of only $30,000, which is less than the $40,000 he is paid working O We cannot know if he would gain or not, because we do not know the inflation rate O it does not matter if Jose gains or not. The only thing that matters is his feelings
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Jose has a job making furniture He is paid $40,000 a year. He is thinking about quiting his job to start his own business. His business
would have revenue of $90,000 a year, and expenses of $60,000 a year Will he gain by making this change in his life?
O Yes, he will gain because $90,000 is more than $40,000
O No, he will lose, because after he pays his expenses he would have a profit of only $30,000, which is less than the $40,000 he is
paid working
O We cannot know if he would gain or not, because we do not know the inflation rate.
O it does not matter if Jose gains or not. The only thing that matters is his feelings.
QUESTION 10
If income taxes are raised, then most people would probably work more because they love the govermment and want to make more
money for the government
O True
O False
QUESTION 11
Which of the following is a negative externality?
Oa pollution
Ob beautiful scenery
OC food
Od intelligence
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