A firm will shut down in the short run if revenue is not sufficient to cover all of its fixed costs of production
a. True
b. False
Indicate whether the statement is true or false
False
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Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom's experience allows him to debone 60 chicken breasts per hour. Both Mike and Tom work 40 hours per week. Their average hourly productivity as a team is ________ chicken breasts.
A. 60 B. 30 C. 45 D. 90
Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the average propensity to consume when real disposable income equals $14,000?
A) 0.91 B) 1.1 C) 0.09 D) 0.7
The $400 dividend check a stockholder receives is included in aggregate accounting as:
A. profits. B. interest. C. rents. D. employee compensation.
Which of the following decreases the supply of restaurant meals?
A) Waiters get a pay raise. B) Consumers' incomes increase and restaurant meals are a normal good. C) Consumers' incomes decrease and restaurant meals are a normal good. D) The price of movies, a complement to restaurant meals, falls.