A technological production advance ______.
a. affects all segments of the economy equally
b. may affect different economic segments differently
c. creates growth in all economic segments
d. influences only the segment for which it was developed
b. may affect different economic segments differently
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If diminishing marginal utility holds, and a person consumes less of a good, then all else being equal
a. the price of the good will rise b. total utility will rise c. marginal utility will rise d. expenditure on the good will increase e. marginal utility will decline
When a nation's institutional environment is more favorable, it will
a. attract more physical investment. b. encourage individuals to invest more heavily in human capital. c. encourage the development and efficient use of natural resources. d. all of the above.
In a perfectly competitive market, buyers and sellers are price setters
a. True b. False Indicate whether the statement is true or false
A marginal propensity to save (MPS) of 0.25 means a $50 million tax cut ultimately
A. Increases spending by $400 million. B. Increases spending by $200 million. C. Increases spending by $150 million. D. Reduces spending by $50 million.