Average Propensity to Consume (APC) equals
What will be an ideal response?
Consumption/Income
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Most of us are dependent on crude oil in some shape or way, whether it's to power our cars or to heat our homes in some parts of the country. More than 80 percent of the home heating oil used in the United States goes to the Northeast
It is suggested that there needs to be government regulation to make it illegal to charge a very high price for oil. This type of regulation would be a ________. A) price ceiling B) price floor C) shortage regulation D) tax incidence
Which of the following cost curves is not generally U-shaped? a. AFC
b. AVC. c. ATC. d. MC.
Which piece of legislation forbids most forms of price discrimination?
a. Sherman Act b. Robinson-Patman Act c. Cellar-Kefauver Act d. Clayton Act
Figure 16-1
In Figure 16-1, there are four levels of income. G is government expenditures and TT is taxes less transfers. At which level of income is the actual deficit the greatest?
a.
Y4
b.
Y3
c.
Y2
d.
Y1