The MPC can be defined as the:
A. Change in consumption divided by the change in income
B. Change in income divided by the change in consumption
C. Ratio of income to saving
D. Ratio of saving to consumption
A. Change in consumption divided by the change in income
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To aggregate 300 tons of steel, 5,000 bushels of wheat, and 1 million barrels of crude oil, economists add together the ________ of the three products
A. number of tons, bushels, and barrels B. units C. weight D. dollar value
A one-year discount bond with a par value of $1000 sold today, at issuance, for $943 has a yield to maturity of
A) 4.30%. B) 5.70%. C) 6.04%. D) 9.43%.
Let M = 36, k = 3, Ls = W/P, MPN = L-1/2 and Y = 2L1/2 . Calculate the labor demand curve, the aggregate demand curve, and the equilibrium values of the real wage, labor, output, and the price level
What will be an ideal response?
The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes $350 per month as the legal maximum rent, producer surplus decreases by
A) d. B) b + f. C) c + g. D) i.