At the End of 2014, the Net National Debt Per

question 212

Multiple Choice

At the end of 2014, the net national debt per person in the United States was approximately

• A)$14 trillion.
• B)$142 billion.
• C)$56,000.
• D)$86,000.

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Definitions:

Breakeven Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain for the business.

Variable Costs

Expenses that change in proportion to the activity of a business, such as costs for raw materials or production.

Fixed Costs

Expenses that do not vary with the level of production or business activity within a certain range.

Price Elastic

A measure of how much the demand for a product or service changes in response to a change in its price.