In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard. a. Y=___ potato b. C=___ potato c. I=___ potato d. T=___ potato

In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard. a. Y=_ potato b. C=_ potato c. I=_ potato d. T=_ potato

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard.
a. Y=___ potato
b. C=___ potato
c. I=___ potato
d. T=___ potato

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