The schedule describing the Keynesian consumption function will become steeper with an increase in ________
A) consumption spending
B) autonomous consumption
C) the marginal propensity to consume
D) the marginal propensity to save
C
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Tyler's wage rises and he chooses to increase the number of hours he supplies to the labor market. What does this imply about the relative sizes of the substitution effect and the income effect? Explain
What will be an ideal response?
Securities dealers that trade stocks and bonds outside exchanges comprise the
A) NASDAQ market. B) outlet market. C) foreign exchange market. D) over-the-counter market.
Total factor productivity growth is that part of economic growth due to
A) capital growth plus labor growth. B) capital growth less labor growth. C) capital growth times labor growth. D) neither capital growth nor labor growth.
When it is cheaper for one firm to produce a number of different commodities together than it is for a group of small firms to produce those commodities, ____ exist(s).
A. economies of scale B. economies of scope C. diminishing marginal returns D. marginal cost pricing