Which of the following is not counted as income when the official poverty rate is calculated?
a. Medicaid benefits.
b. dividends derived from the ownership of stock.
c. earnings derived from a part-time job.
d. money income derived from transfer payments.
a
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Let "C = Ca + by" define the consumption function. The term "b" is known as
A) autonomous consumption. B) induced consumption. C) the marginal propensity to save. D) the marginal propensity to consume.
Given the scenario described, if the market price of hammers increased from $8 to $14, total producer surplus would:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. A. increase from $8 to $14. B. increase from $1 to $12. C. decrease from $14 to $8. D. increase from $7 to $30.
In the long run, each perfectly competitive firm produces at the lowest point on
a. its short-run average total cost curve b. its long-run average total cost curve c. its marginal cost curve d. both its short-run and long-run average total cost curves e. both its short-run average cost curve and its marginal cost curve
In purchasing products A and B, a consumer is in equilibrium when:
A) MUa/Pa = MUb/Pb B) MUa/Pb = MUb/Pa C) MUa - MUb = Pa/Pb D) MUa × Pa = MUb × Pb