Market failure results in
A. Pareto efficiency.
B. no goods being produced.
C. economic collapse.
D. lost surplus.
Answer: D
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If the Fed sells government securities, other interest rates ________ and then exchange rate ________
A) rise; does not change B) fall; falls C) do not change; rises D) rise; falls E) rise; rises
In the United States, the federal income tax is an example of a
A) progressive tax. B) regressive tax. C) flat tax. D) proportional tax.
Behavioral economists use which technique to test economic theory?
A) controlled experiments B) price theory C) environmental economics D) lie detector tests
The marginal propensity to save is
A. change in real consumption/change in real disposable income. B. change in real saving/change in real disposable income. C. real saving/real disposable income. D. real consumption/real disposable income.