The price facing the representative firm rises when market demand rises.
a. true
b. false
Ans: a. true
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The marginal propensity to consume (MPC) is the slope of the:
a. GDP curve. b. disposable income curve. c. consumption function. d. autonomous consumption curve.
Many scholars believe that the importance of research and development is understated. Efforts in research and development can include: a. the introduction of new products. b. management improvements
c. production innovations. d. any of the above.
An appropriate government policy toward negative externalities is to
a. subsidize the activity that creates the negative externality. b. impose a tax or fine on the activity that creates the negative externality. c. pay money to the party that creates the negative externality. d. impose a tax on recipients of the negative externality.
If you fall short of a certain minimum standard of living, you are poor; once you pass this standard, you are no longer poor. This refers to the ____ definition of poverty
a. average b. absolute c. relative d. threshold