Refer to the above figure. The figure represents the saving function for the consumer. Point A represents
A) the point at which saving equals zero. B) a situation in which saving is positive.
C) a situation in which saving is negative. D) the amount of autonomous consumption.
C
You might also like to view...
Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt is best be considered as
A) still being employed. B) included in the economy's "hidden employment." C) frictionally unemployed. D) cyclically unemployed.
For allocative efficiency to hold
A) average total cost is minimized in production. B) average variable cost is minimized in production. C) price must equal the marginal cost of the last unit produced. D) price must equal marginal revenue of the last unit sold.
Wealth creating transactions are less likely to occur
a. Without private property rights b. Without contract enforcement c. Both a and b d. None of the above
The typical cost curves are U-shaped due to the
A) law of diminishing marginal utility. B) law of supply. C) law of demand. D) law of diminishing marginal product.