When disposable income is 1250, saving is
A. -1000.
B. -500.
C. 0.
D. 500.
A. -1000.
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Table 5-1B Number of coconuts 0 1 2 3 4 Robinson’s marginal utility C $2.00 $1.88 $1.60 $1.30 If a graph of Robinson’s marginal utility were constructed from Table 5-1B, it would
A. illustrate the “law” of diminishing marginal utility. B. be a negatively sloped curve. C. illustrate a typical consumer’s satisfaction derived from consumption of consecutive units of a good. D. All of the responses are correct.
What is the marginal product of labor?
What will be an ideal response?
Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of combsOpportunity Cost(Foregone brushes)Number of brushesOpportunity Cost (Foregone combs)J4 0NAK3 10 L2 17 M1 21 N0NA23 On the basis of Table 1.3, in the production range of 21 to 23 brushes the opportunity cost of producing one more comb in terms of brushes is
A. 4. B. 1/21. C. 1/2. D. 21/23.
A home mortgage is a particular type of loan used to buy a house where the house serves as the collateral for the mortgage.
Answer the following statement true (T) or false (F)