The concept of aggregate supply is a
a. fixed number.
b. schedule.
c. predetermined amount of output.
d. All of the above are correct.
b
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The break-even point refers to
A) the amount of autonomous consumption. B) a point at which planned real consumption is for greater than real disposable income. C) the point at which planned real consumption equals real disposable income. D) the maximum amount of dissaving a person can experience.
Bobby spends $100 per month on pizza and CDs. His utility from these goods is shown in the table above. The price of a pizza is $10 and the price of a CD is $20. If Bobby maximizes utility from these goods, his total utility is ________ units
A) 705 B) 750 C) 770 D) 880
Winner's curse is likely to happen in which of the following auctions?
A) unexplored oil reserves B) corn stored in a warehouse C) 1,000 ton of iron ore D) U.S. Treasury Bonds
A change in the wage rate causes a firm's labor demand curve to shift
a. True b. False