C = a + bY is a form of the consumption function where a is
a. the consumption function, b is the marginal propensity to consume, and Y is national income
b. the marginal propensity to consume, b is the consumption function, and Y is national income
c. the marginal propensity to consume, b is autonomous consumption spending, and Y is national income
d. autonomous consumption spending, b is the marginal propensity to consume, and Y is national income
e. autonomous consumption spending, b is the consumption function, and Y is consumption spending
D
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According to new growth theorists, more technological improvements can be brought about by
A) the government taking a more active role in regulating industries. B) government policies that lead to increases in human capital. C) tougher immigration laws. D) a government policy that encourages increased consumption.
Which of the following is true of property rights?
a. They are rights to use a public good without paying for it. b. They usually specify the owner's alternatives. c. The are associated with the exchange of commodities but not services. d. They are often open-ended and do not exhaustively specify the owner's alternatives.
The financial crises of the 1990s have conclusively proved that globalization causes financial crises
a. True b. False Indicate whether the statement is true or false
If the economy were producing at point E and moves to point D,
Hypothetical Production Schedule for a Two-Product Economy
A. resources will shift from producing capital goods to producing consumer goods.
B. resources will shift from producing consumer goods to producing capital goods.
C. more capital goods can be produced without any sacrifice in consumer goods production.
D. more consumer goods can be produced without any sacrifice in capital goods production.