When the consumption schedule is plotted on a graph,
A. consumption is on the horizontal axis and disposable income is on the vertical axis.
B. consumption is on the horizontal axis and saving is on the vertical axis.
C. consumption is on the vertical axis and saving is on the horizontal axis.
D. consumption is on the vertical axis and disposable income is on the horizontal axis.
Answer: D
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In a competitive market equilibrium:
A) social surplus is minimized. B) all the gains from trade are not realized. C) there is Pareto efficiency. D) all the firms earn positive economic profits.
What is the relationship between gross investment, net investment, and depreciation? Which measures the change in the capital stock?
What will be an ideal response?
What explains the sharply divergent long-run growth patterns?
What will be an ideal response?
Best National Bank is subject to a 20 percent required reserve ratio. If this bank received a new checkable deposit of $1,000 . it could make new loans of:
a. $500 b. $800. c. $1,000 d. $5,000.