The aggregate consumption function is C = 100 + 0.8Yd. If income is $600 and net taxes are zero, consumption equals
A. zero.
B. 360.
C. 460.
D. 580.
Answer: D
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To maximize profit, the monopolist produces on the ________ portion of its demand where ________
A) elastic; P = MC B) elastic; MR = MC C) inelastic; P = MC D) inelastic; MR = MC
Which of the following is considered part of M2?
a. Savings deposits. b. Money market mutual fund shares. c. Small time deposits of less than $100,000. d. All of these.
When the existing firms in a competitive industry have different operating costs:
a. the highest-cost firm in operation breaks even, while the low cost firms will earn profit. b. the highest-cost firm in operation breaks even, while the low cost firms leave the industry. c. the low cost firms earn a larger profit than the high-cost firms. d. the highest-cost firms will incur a deadweight loss.
Most of the world's population lives in developed, rather than developing, countries.
Answer the following statement true (T) or false (F)