If national income is $400 billion, consumption spending is $380 billion, and MPC is 0.5, what is the level of saving?
a. $20 billion
b. $210 billion
c. $380 billion
d. $590 billion
e. $780 billion
A
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Interest is considered a(n)
A) explicit cost when the firm pays a bank to borrow money. B) implicit cost when the firm owner uses his or her own funds to buy capital. C) return to entrepreneurship if the firm owner uses her own funds to buy capital. D) form of depreciation if the cost of borrowing increases. E) Both answers A and B are true.
In the above figure, the line labeled "MRPL" also represents the firm's
A) supply curve. B) marginal physical product curve. C) total physical product curve. D) demand curve.
Since advertising increases a firm's average total cost, consumers ultimately pay for the cost of advertising in the form of a higher price in the long run. It is not possible for a firm to end up with a lower profit-maximizing price as the result of advertising
a. True b. False
If a person is waiting to be called back to a job from which she has been laid off, how is she classified by the Bureau of Labor Statistics?
A) as not in the labor force B) as an unemployed person C) as an employed person D) as a discouraged worker