If the marginal propensity to save (MPS) is 0.50, the value of the spending multiplier is:
a. 1.
b. 2.
c. 4.
d. 9.
b
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Suppose Alexander is successful in establishing a profitable market for his vegan bakery in what is a monopolistically competitive industry. In the long run, Alexander will most likely find it ________ to remain profitable as he faces ________ competition in the vegan bakery market.
A) easier; more B) harder; more C) easier; less D) harder; less
The international organization that replaced the General Agreement on Tariffs and Trade (GATT) is the
a. World Bank. b. Export-Import Bank. c. World Trade Organization. d. International Monetary Fund.
The slope of an indifference curve is
a. the rate of change of consumer's preferences. b. the marginal rate of preference. c. the marginal rate of substitution. d. always equal to the slope of the budget constraint.
Aggregate supply grows over time because of growing consumer and government spending.
Answer the following statement true (T) or false (F)