Refer to the above figure. Perfect income equality is shown by
A. curve A.
B. the horizontal axis.
C. the vertical axis.
D. curve D.
Answer: A
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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.
Which of the following characteristics apply to both monopoly and monopolistic competition? a. Marginal revenue exceeds marginal cost at equilibrium
b. Average revenue exceeds both marginal cost and marginal revenue at equilibrium. c. Marginal revenue exceeds average revenue at equilibrium. d. Marginal revenue and marginal cost are equal and exceed price at equilibrium.
Marketable debt from the U.S. government in the form of bonds, notes, and bills is known as
a. monetized debt b. crowding out c. derivatives d. Treasury securities e. external debt
When per capita real GDP is increasing, real output is growing
a. more rapidly than prices. b. more rapidly than population. c. less rapidly than prices. d. less rapidly than population.