Referring to the table above, if consumption in period one is $20,000, then consumption in period two cannot be greater than ________
A) $52,800
B) $50,400
C) $49,600
D) $50,000
B
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Dissaving occurs when
A. income is greater than saving. B. saving is greater than the interest rate. C. saving is greater than consumption. D. income is less than consumption.
All of the following actions are potential rule -of-reason violations except which one?
A) a firm's agreement with a customer about the markets in which the customer is allowed to resell the product B) a firm's agreement with a customer about the resale price of its product C) a tying sale with a customer D) an agreement with a competitor firm to divide the market
Adding more resources to production causes
a. a downward movement along the production possibilities curve b. the production possibilities curve to shift in toward the origin c. an upward movement along the production possibilities curve d. the production possibilities curve to shift out from the origin e. the production possibilities curve to become positively sloped
If the elasticity of demand for a service is 1, then the demand for that service is
A. perfectly elastic. B. elastic. C. unit elastic. D. inelastic.