Given a national income of $800 billion, an MPC of 0.8, and autonomous consumption of $60 billion, what is the level of consumption spending?

Poppy Lipstick is a lipstick producer. A decrease in the rent paid by Poppy Lipstick

A) shifts its TFC curve downward but not its TVC curve. B) shifts both its TFC curve and its TVC curve downward. C) does not shift its TFC curve but shifts its TVC curve upward. D) does not shift its TFC curve but shifts its TVC curve downward.

A graphical representation which shows the trade-off that occurs when more of one output is obtained at the sacrifice of another is called

A) a Laffer Curve. B) a production possibilities curve. C) a bell curve. D) a supply curve.