The break-even point refers to
A) the amount of autonomous consumption.
B) a point at which planned real consumption is for greater than real disposable income.
C) the point at which planned real consumption equals real disposable income.
D) the maximum amount of dissaving a person can experience.
C
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Which of the following statements identifies a difference between correlation and causation?
A) Correlation occurs when one thing directly affects another, whereas causation implies a mutual relationship between two things. B) Causation cannot arise when correlation is present, and correlation cannot arise when causation is present. C) Correlation implies a mutual relationship between two things, whereas causation occurs when one thing directly affects another. D) A causal relationship exists between two variables when they are correlated, but correlation does not necessarily exist if there's a causal relationship between two variables.
The above figure shows that the maximum amount a person is willing to pay for the 400th pretzel
A) is greater than the marginal social cost of the 400th pretzel. B) is less than the marginal social benefit of the 400th pretzel. C) and the marginal social benefit of the 400th pretzel are both $2. D) is greater than the marginal social benefit of the 200th pretzel.
Economic profit equals accounting profit minus
A) explicit costs. B) implicit costs. C) fixed costs. D) variable costs.
All else equal, an increase in supply will cause an increase in consumer surplus
a. True b. False Indicate whether the statement is true or false