The multiplier is equal to:
A. 1 - MPC.
B. MPS ? MPC.
C. 1 ? MPS.
D. 1 ? MPC.
C. 1 ? MPS.
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Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. He is willing to pay $200 for the dozen fish, but buys them for a total of $140. Marco's consumer surplus from the purchase is
A) $5. B) $60. C) $140. D) $200.
Refer to the above table. Assuming that opportunity costs are constant, the opportunity cost of producing a bicycle in the United States is equal to ________, and the opportunity cost of producing a bicycle in Mexico is ________
A) 4 computers; 0.5 computer B) 0.25 computer; 2 computers C) 2.67 bicycles; 0.33 computers D) 0.375 computer; 3 bicycles
Keynes believed
A. recessions were temporary. B. budget deficits were to be avoided at all costs. C. any kind of spending was necessary to get us out of a depression. D. both wages and prices were downwardly flexible.
The demand curve illustrates the fact that consumers tend to purchase:
A. name-brand products more frequently than generic products. B. more of a good as its price falls. C. more of a good as their incomes rise. D. more of a good as it becomes more popular.