All of the following are tax shields except which one?
A) depreciation allowances
B) an interest-only payment of a loan
C) a principal payment on a loan
D) straight-line depreciation
C) a principal payment on a loan
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In the classical model, a change in aggregate demand
A) causes changes in both the long-run real GDP and in the price level. B) causes a change in long-run real GDP but not in the price level. C) causes a change in the price level but not in the long-run real GDP. D) has no effect on either real GDP or the price level.
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, fixed costs must be:
A. $200. B. $10. C. $60. D. Fixed costs cannot be determined by the information in the table.
A decrease in supply means that the quantity supplied
A. does not fall at any price. B. falls only at the equilibrium price. C. falls at a few prices. D. falls at all prices.
The set of all possible bundles of goods and services that can be purchased with a consumer's income is referred to as the:
A) demand set. B) supply set. C) budget set. D) universal set.