If the slope of a linear consumption schedule increases in a private closed economy, then it can be concluded that the:
A. MPS has increased
B. MPC has increased
C. Income has increased
D. Income has decreased
B. MPC has increased
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According to the scenario above, in which of the following groups are all the people structurally unemployed?
A) Thorton B) Jung C) Thorton and Darrelo D) Darrelo and Thorton E) Rita, Armondo, and Chris
From the four asset bubbles discussed in this chapter, the one that has the smallest impact on the economy is
A) the 1927-29 U.S. stock market bubble. B) the 1987-89 Japanese stock market bubble. C) the 1996-2000 U.S. stock market bubble. D) the 2001-2006 U.S. housing bubble.
When the CPI increases from one year to the next:
A. inflation has occurred. B. deflation has occurred. C. there has not been a change in the overall price level. D. the impact to the general standard of living is hard to measure.
People's knowledge is a type of capital, called human capital.
Answer the following statement true (T) or false (F)