If saving equals $200 when real disposable income equals $10,000, the break-even income is
A. greater than $10,000.
B. less than $10,000.
C. equal to $10,000.
D. cannot be determined using the above information.
Answer: B
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If a firm has an incentive to increase supply now and decrease supply in the future, then the firm expects that the
A) demand for the product will be lower in the future than it is today. B) price of its product will be higher in the future than it is today. C) price of its product will be lower in the future than it is today. D) price of inputs will be lower in the future than they are today.
Which person is most likely to be poor? A person who is
A. over 65 years of age. B. black. C. white and under 6 years of age. D. living in a female-heading family with children under 18.
Examination of data since 1953 indicates that during this period stretching more than half a century, the Phillips curve
A. slopes smoothly upward at first but then slopes smoothly downward. B. is smoothly upward sloping. C. is smoothly downward sloping. D. fails to exist.
In the classical view of the labor market, it is implied that unemployment does not exist.
Answer the following statement true (T) or false (F)