Refer to Table 10.1. The value of the tax multiplier in this economy is
A) 0.
B) -2.
C) -4.
D) -5.
C
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Marginal cost is defined as:
A) the change in total cost due to a one unit change in output. B) total cost divided by output. C) the change in output due to a one unit change in an input. D) total product divided by the quantity of input.
An economy accumulates capital when
A) its capital-labor ratio increases. B) it increases the number of workers. C) GDP per capita increases. D) labor productivity declines.
In an unbalanced oligopoly, the sales of the leading firms
a. are unevenly distributed b. are larger than the sales of all other firms c. are larger than their market shares d. are smaller than in a balanced oligopoly e. grow faster than in a balanced oligopoly
A typical American family sends about _____% of its budget on services
a. 20% b. 32% c. 66% d. 70%