Suppose the consumption function is C = $100 + 0.85YD. If disposable income is $400, saving is
A. -$15.00.
B. $15.00.
C. $40.00.
D. -$40.00.
Answer: D
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According to general trends in the incidence of unemployment across different demographic groups in the United States, which of the following groups have the lowest unemployment rates in the country?
a. Asians b. Hispanics c. Whites d. Nonwhites e. Latinos
According to the law of increasing opportunity cost,
a. production points outside the production possibility frontier are unattainable b. the production possibility frontier becomes flatter as production increases along the horizontal axis c. the opportunity cost of producing a good rises as production of that good falls d. production points inside the production possibility frontier are unattainable e. the opportunity cost of producing a good rises as production of that good rises
For two individuals who engage in the same two productive activities, it is impossible for one of the two individuals to
a. have a comparative advantage in both activities. b. have an absolute advantage in both activities. c. be more productive per unit of time in both activities. d. gain from trade with each other.
A sole proprietorship is
A) the easiest type of business to set up. B) the most difficult type of business to set up. C) the most expensive type of business to set up. D) the least profitable type of business to set up.