If, for a given disposable income level, the disposable income line lies above the consumption curve, saving:
a. equals consumption.
b. equals disposable income.
c. is less than zero.
d. is equal to zero.
e. is greater than zero.
e
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Compared to the level of real GDP per person in 1870, by 2010, real GDP in the U.S was ________ times larger, while real GDP per person in Japan was ________.
A. 12; 30 times larger B. 12; smaller C. 30; 12 times larger D. 12; 12 times larger
The condition under which a cartel can maintain its stability is that:
a. the barriers to entry should be relaxed. b. an identical product should be produced by the colluding firms. c. there should be a large number of firms in a market. d. there should be legal barriers to share agreements. e. the products of the colluding firms should be highly differentiated.
Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500. Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000
What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $13,500 B) $20,000 C) $24,000 D) $30,500
Suppose a family's consumption exceeds its disposable income. This means that its:
A. MPC is greater than 1. B. MPS is negative. C. APC is greater than 1. D. APS is positive.