If fixed costs equal $120, variable costs equal $800, and output is 10, average variable cost equals:
A. $ 80.
B. $120.
C. $ 92.
D. $ 40.
Answer: A
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If the marginal propensity to consume is 0.60, then the multiplier equals
A. 1.67. B. 0.40. C. 0.60. D. 2.50.
Buck carefully plans out an early morning exercise routine to lose weight and get fit. When it's time to work out, however, Buck just "doesn't feel up to it" and decides to sleep in. Behavioral economics would say that Buck:
A. weighed the costs and benefits and made a rational economic decision to sleep in. B. used System 1 of his brain to formulate his workout plan, but then gave in to System 2 when he chose to sleep in. C. used System 2 of his brain to formulate his workout plan, but then gave in to System 1 when he chose to sleep in. D. is fundamentally lazy and incapable of sticking to a workout plan.
In the United States, the distribution of wealth is more unequal than the distribution of income.
Answer the following statement true (T) or false (F)
The two links between the goods market and the money market are
A) income and the inflation rate. B) the interest rate and the unemployment rate. C) income and the interest rate. D) the inflation rate and the unemployment rate.