Which of the following doesn’t characterize the properties of a dollar:
A. changes in value over time.
B. can reflect the cost of living in terms of the goods it can purchase.
C. has no worth itself, but represents goods we can buy with it.
D. it has a fixed value that doesn’t change over time.
D. it has a fixed value that doesn’t change over time.
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Suppose the economy has no income taxes or imports. How is the size of the expenditure multiplier related to the marginal propensity to consume? What is the multiplier if the MPC equals 0.25? If the MPC equals 0.50? If the MPC equals 0.90?
What will be an ideal response?
People obtain their money incomes basically by
A) chance. B) hard work. C) inheritance. D) supplying something for which others are willing to pay.
________: the sum of all individual categories of production costs that do vary with the level of production
Fill in the blank(s) with correct word
Refer to the graph shown. If the elasticity of supply is 1, the burden of the tax will be shared equally by consumers and suppliers at which point?
A. It depends on who pays the tax. B. A C. C D. E