In the figure above, when income equals $20,000, what does consumption equal?
A) $0
B) $10,000
C) $20,000
D) impossible to tell
C
You might also like to view...
Which of the expenditure components of GDP can be negative?
A. consumption spending on durables. B. net exports. C. consumption spending on services. D. government purchases of goods and services.
The seller of a call option has the
A) right to buy shares at a specified price. B) obligation to buy shares at a specified price if the option is exercised. C) right to sell shares at a specified price. D) obligation to sell shares at a specified price if the option is exercised.
An oligopoly is characterized by
a. few firms, which have control over market price b. many firms and some barriers to entry c. a large number of firms and no barriers to entry d. a single firm and no barriers to entry e. a single firm and significant barriers to entry
If on a given product indifference curve a firm is using an insufficient (nonoptimal) amount of one of its inputs
a. output will be below optimal. b. the MRP of the input will be below its price. c. costs will not be minimal. d. relative input prices need to change.