Current estimates of the marginal propensity to consume out of wealth are in the neighborhood of ________
A) three and one-half cents per dollar of wealth
B) 45 cents per dollar of wealth
C) 98 cents per dollar of wealth
D) $4.87 per dollar of wealth
A
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A copyright gives an inventor the exclusive right to make, sell, or use an invention for a limited time
a. True b. False Indicate whether the statement is true or false
The production possibilities curve bows outward because
A. opportunity costs are decreasing as the production of a good increases. B. resources are of uniform quality. C. opportunity costs are increasing as the production of a good increases. D. opportunity costs are fixed as the production of a good increases.
Which of the following statements is NOT true about marginal utility when total utility is at its maximum point?
A. A rational consumer will not consume additional units beyond this point. B. Marginal utility is decreasing. C. Marginal utility is negative. D. Marginal utility is zero.
Which of the following represents the lending capacity of an entire banking system?
A. Total reserves - required reserves. B. Required reserve ratio × total deposits. C. 1 ÷ (required reserve ratio). D. (Total reserves - required reserves) × money multiplier.