Most individual's income peaks when they are about
A) 30.
B) 40.
C) 50.
D) 60.
C
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An autonomous increase in net exports for any given inflation rate ________
A) would add directly to planned expenditures B) would raise the equilibrium level of output C) causes the aggregate demand curve to shift to the right D) all of the above E) none of the above
In the graph for the consumption function, the 45-degree line
A) contains only a consumption component.
B) represents both planned consumption and planned investment.
C) shows various combinations where planned consumption equals real disposable income.
D) reflects a decreasing APC as real disposable income rises.
Jen is offered a job answering the phone in the State U economics department during lunchtime, from noon to 1 p.m., Tuesdays and Thursdays. Her reservation wage for this job is $15 per hour. Now suppose the department chair announces that the $150 per week earnings from the job will be divided equally among Jen and 299 other students in the department. How much economic surplus will Jen enjoy each week if she accepts the job?
A. $0.50 B. -$29.00 C. -$29.50 D. -$14.00
A price support on agricultural products is a minimum domestic price set by the government. The government outlaws transactions below the price support, but usually has no commitment to buy any amounts that farmers cannot sell at this price.
Answer the following statement true (T) or false (F)