Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 
Figure 15.4 Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $150 and is a monopolistically competitive firm. If the firm produces 50 personalized sweatshirts in the short run, it will
A. not cover any of its costs.
B. minimize profits.
C. break even.
D. minimize losses.
Answer: D
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During the 1915–1919 fiscal years, income tax revenues comprised approximately 53% of total federal revenues. Today, over 80% of total tax revenues are raised through income taxes
Indicate whether the statement is true or false
Economists tend to see ticket scalping as
a. a way for a few to profit without producing anything of value. b. an inequitable interference in the orderly process of ticket distribution. c. a way of increasing the efficiency of ticket distribution. d. an unproductive activity which should be made illegal everywhere.
Which of the following is not an aspect of Keynesian economics?
A) Wages and prices tend to be inflexible downward. B) Supply does not necessarily generate its own demand. C) The interest rate is important in determining the level of investment, but not as important as other variables. D) Unemployment above natural unemployment is always a brief and temporary phenomenon.
One of the possible consequences of the expenditure schedule lying below the level of full employment GDP is
A. unemployment. B. rising prices. C. increasing production. D. decreasing inventories.