The________point is the total output or total product the business needs to sell in order to cover its total costs.
Fill in the blank(s) with the appropriate word(s).
Ans: break-even point
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Suppose that the sub sandwich business is a competitive, constant-cost industry. An increase in demand for sub sandwiches, will, in the long-run lead to
a. an increase in price and industry output, but no increase in the output of existing firms. b. no increase in price, no increase in the output of existing firms but an increase in industry output because of new firms. c. no increase in price and an increase in industry output as each existing firm produces more. d. no changes in price, output of existing firms or the number of firms in the industry.
Use the following graphs to answer the next question.
In the graphs, the numbers in parentheses near the AD1, AD2, and AD3 labels indicate the level of investment spending associated with each curve, respectively. All numbers are in billions of dollars. The interest rate and the level of investment spending in the economy are at point D on the investment demand curve. To achieve the long-run goal of a noninflationary full-employment output of Qf in the economy, the Fed should try to ________.
A. increase aggregate demand by decreasing the interest rate from 4% to 2% B. decrease aggregate demand by increasing the interest rate from 2% to 4% C. decrease aggregate demand by increasing the interest rate from 4% to 6% D. increase the level of investment spending from $120 billion to $150 billion
Since 1967, there has not been much change in the income of the bottom 10% of earners in the U.S. economy. This can be attributed to:
A) the adoption of labor-saving technology. B) the cultural and social changes in the economy. C) the adoption of labor-complementary technology. D) the adoption of skill-biased technology by most firms.
Which of the following risks will always be insured in a business?
a. Bad debts recorded in the company accounts b. Vital inputs required for daily production c. High-end technology based products d. Inventory stocked up in the storehouses.