The income-expenditure identity is best paraphrased as
A) all spending generates income.
B) all profits are used for investment spending.
C) on average, consumers cannot save.
D) on average, government can spend no more than what it collects in income taxes.
A
Economics
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If a firm has an average total cost of $55 and an average fixed cost of $10 for producing 5 units of output, then the total variable cost will be:
a. $550. b. $525. c. $225. d. $65.
Economics
Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, Germany is most likely to expand its PPF to
A) PPF3 or PPF2. B) PPF3. C) PPF1. D) PPF1. or PPF2. E) PPF2.
Economics