The break-even level out output occurs for a business when
A) Marginal cost equals marginal revenue. B) Average revenue equals marginal revenue.
C) Marginal revenue equals average total cost. D) Average revenue equals average variable cost.
Answer: C
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For each of the following, how would they be included in the national income accounts?
a. The University of California buys a new computer. b. Charles buys a new MP3 player. c. Marian buys a new mountain cabin. d. Vikki buys an old mansion with hopes of restoring it. e. Farmer Brown buys a used combine harvester.
Suppose the mean earnings of two groups differ. Which of the following would be the logical conclusion?
a. The group with the lowest earnings must be the victim of employment discrimination. b. The group with the lowest earnings must be less productive. c. The group with the highest earnings is more highly motivated and materialistic. d. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination.
Recall the Application about the incentives to install rooftop solar panels to answer the following question(s).According to the Application, another factor that was responsible for solar power deployment was the rising price of electricity. The increase in sales due to higher electricity prices describes the economic concept of:
A. using assumptions to simplify. B. ceteris paribus. C. rational self-interest. D. marginal thinking.
Define international trade and international financial transactions. Give an example of each one.
What will be an ideal response?