The size of planned consumption is influenced to a considerable extent by
a. the interest rate.
b. whether or not the government is running a deficit.
c. how much income people are receiving.
d. expected profits.
c. how much income people are receiving.
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Acme is a perfectly competitive firm. It has the total cost schedule given in the above table. Acme's product sells for $8.00 per unit. What amount of output is the most profitable and what is Acme's economic profit or economic loss?
What will be an ideal response?
The sales of the 50 largest corporations in the U.S. economy amount to nearly 31 percent of GDP in 2017.
Answer the following statement true (T) or false (F)
The study of the choices made by individual households, firms, and government is called:
A. macroeconomics. B. microeconomics. C. managerial economics. D. market economics.
Refer to the diagram. Minimum efficient scale:
A. occurs at some output greater than Q 3 .
B. is achieved at Q 1 .
C. is achieved at Q 3 .
D. cannot be identified in this diagram.