Which of the following could lead to an upward shift in the consumption function?
A) A decrease in home values
B) A decline in wages
C) An increase in stock prices
D) A rise in wages
C
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Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market
If Kevin trains 5 clients per day, he will ________ his profit and will ________. A) maximize; earn normal profit B) not maximize; earn a normal profit anyway C) maximize; earn an economic profit D) not maximize; earn an economic profit anyway E) not maximize; incur an economic loss
If the real value of your savings is decreasing over time, we know that the:
A. real rate of interest is positive. B. real rate of interest is negative. C. real rate of interest is zero. D. inflation is zero.