Real investment spending is ____ real personal consumption.
A. equal to
B. greater than
C. stable compared to
D. highly volatile compared to
Answer: D
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The most a monopolist can sell at any given price is:
A. the amount he alone can supply the market with. B. the amount demanders are willing to buy at that price. C. constrained by the availability of inputs. D. less than if it were a perfectly competitive market.
Externalities are unintended costs or benefits that are imposed on unsuspecting people and that result from:
a. poor planning. b. intentional damages. c. excessive costs. d. excessive losses. e. the economic activity of others.
Which of the following will change the slopes of your indifference curves between gasoline and movie rentals?
A) a change in your preferences for either of the two goods B) only a change in the price of either of the two goods C) only a change in your income D) Both a change in the price of either good and a change in income will change the slopes of your indifference curves.
Comment on the following statement: "When average product and marginal product are equal, marginal product is at its maximum."
What will be an ideal response?