In the United States saving is allocated to its most productive use by:
A. the federal, state, and local governments.
B. a decentralized, market-oriented financial system.
C. regulations and laws designed to improve productivity.
D. the Federal Reserve.
Answer: B
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Consider a diagram in which the variable measured on the y-axis remains constant while the variable measured on the x-axis increases. The graph is of this relationship is a
A) perpendicular line. B) line with slope equal to zero. C) line that has positive slope. D) line that has a negative slope.
The slope of the consumption function is equal to: a. the MPC
b. the MPS. c. 1/(1 - MPC). d. MPC - MPS.
The manager of a firm operating in a competitive market can ignore sunk costs when making business decisions
a. True b. False Indicate whether the statement is true or false
International trade does all the following except
a. allow a country to specialize in producing certain goods and services b. reduce world output c. increase world output d. allow a country's consumption possibilities frontier to lie outside its production possibilities frontier e. allow a country to move to a higher consumption possibilities frontier