In the above figure, the marginal propensity to consume (MPC) equals
A) 0.9. B) 0.75. C) 0.8. D) 0.85.
A
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Which of the following is an example of opportunity cost?
A. The income that could have been earned by working full-time instead of going to college. B. The decline in the grades of a student athlete that occurs because she decides to spend more time practicing sports than on her academic work. C. The value of other things you could have done with the same time and money it cost you to go to the movies. D. All of the choices are examples of opportunity cost.
Your authors state that the rise in the U.S. poverty rate from 2000 to 2010 was primarily caused by
A) the rise of huge corporations and "big box stores" in the consumer goods sector. B) the growing number of students straddled with student loan debt. C) the Great Recession that began in 2008. D) none of the above reasons.
Most of world trade is in the form of manufactured consumer goods such as TVs, stereos, VCRs, and running shoes
Indicate whether the statement is true or false
A business owner makes 50 items a day. Each day he/she contributes 8 hours to produce those items. If hired, elsewhere he/she could have earned $10 an hour. The item sells for $10 each. Production does not stop during weekends. If the explicit costs total $10,00 . for 30 days, the accounting profit for the month equals:
a. $1,760 b. $2,240 c. $11,760 d. $5,000