The break-even point refers to
A. a point at which planned real consumption is greater than real disposable income.
B. the point at which planned real consumption equals real disposable income.
C. a zero amount of autonomous consumption.
D. the maximum amount of dissaving a person can experience.
Answer: B
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Figure 11-5
In Figure 11-5, Crown Theater, a monopolist movie theater, has chosen the profit-maximizing output. At this output level, what is total cost for the firm?
A. $750 B. $600 C. $450 D. $300
Suppose it takes Paul 3 hours to bake a cake and 2 hours to mow the lawn, and suppose it takes Tom 2 hours to bake a cake and 1 hour to mow the lawn. Which of the following statements is correct?
A. Paul has the comparative advantage in mowing the lawn. B. Paul has the absolute advantage in mowing the lawn. C. Paul has the comparative advantage in baking cakes. D. Paul has the absolute advantage in baking cakes.
? A decrease in nominal incomes cause a:
A. ?rightward shift in the short-run aggregate supply curve. B. ?leftward shift in the short-run aggregate supply curve. C. ?rightward shift in the long-run aggregate supply curve. D. ?leftward shift in the long-run aggregate supply curve.
Which of the following is likely to shift the demand curve for carpenters rightward, assuming all else equal?
A) A fall in the wage rate of carpenters B) A fall in the price of wood C) A rise in the wage rate of carpenters D) A rise in the price of wood