Refer to the information provided in Table 22.3 below to answer the question(s) that follow. Table 22.3 PointAggregate Income (Y)Aggregate Consumption (C) A 15 19 B 30 23 C 45 27 D 60 31 E 75 35 F 90 39The data in the table was used to estimate the following consumption function: C = 20 + 0.2YRefer to Table 22.3. Which of the following points is (are) the best fit for the given consumption function?
A. A
B. A, B, C and D
C. D and F
D. E
Answer: D
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a. True b. False Indicate whether the statement is true or false
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A. dollar value; actual amount B. actual amount; dollar value C. actual amount; dollar value with inflation D. dollar value with inflation; dollar value
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a. the market will evolve into a natural monopoly b. minimum efficient scale is large as well c. only a few large firms will survive in the long run d. smaller firms have a cost advantage over larger firms e. firms of varying sizes can coexist
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a. Government spending automatically rises and taxes automatically rise. b. Government spending automatically falls and taxes automatically rise. c. Government spending rises automatically and taxes fall automatically. d. Government spending and taxes do not tend to change. e. None of the above.