Note: Amounts in $ trillionsRefer to the above table. Which variables in the table are NOT autonomous?
A. planned investment, net exports, and government spending
B. taxes, government spending, and saving
C. planned saving only
D. planned consumption and planned saving
Answer: D
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Refer to the table above. The total cost per month is the lowest if Ryan chooses to rent Apartment ________
A) 1 B) 2 C) 3 D) 4
Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $20, what is Giuseppe's profit-maximizing output?
A) 2 pizzas per hour B) 3 pizzas per hour C) 4 pizzas per hour D) 0 pizzas per hour
Which of the following is part of an economic model?
A) assumptions B) norms C) preferences of economic agents D) opinions
Under a progressive income tax, the average tax rate
A. decreases as income increases. B. remains constant at all levels of income. C. increases as income increases. D. initially decreases, then increases, as income increases.