The present value of $100 to be paid in two years is less than the present value of $100 to be paid in three years
a. True
b. False
Indicate whether the statement is true or false
False
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Higher marginal propensities to consume and invest will make the slope of the aggregate expenditure function steeper
Indicate whether the statement is true or false
Subprime mortgages are mortgage loans:
A. made to borrowers with low credit scores. B. that have less than prime interest rates. C. made to borrowers with higher than average credit scores. D. made at lower than general market interest rates.
Perfect substitutes have a constant _____
a. marginal propensity to consume b. marginal propensity to save c. marginal rate of substitution d. marginal rate of return
Which of the following statements is true?
A. "Extreme poverty" refers to an income of less than $2 per day. B. U.S. GDP per capita is five times larger than the world average. C. The poorest nations of the world have average incomes of $5,000. D. According to world standards, 12 percent of Americans are poor.