The world rate of population growth is closest to
(a) 1%.
(b) 2%.
(c) 3%.
(d) 4%.
A
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Identify the correct mathematical relationship between the marginal propensity to consume (MPC) and the marginal propensity to save (MPS)
a. MPC + MPS = 1 b. MPC – MPS = 1 c. MPC × MPS = 1 d. MPS + MPC = 0
Alice has $10 to spend on wine and cheese. If wine is $2.50 a glass and cheese $2, draw the corresponding budget line. Then draw three indifference curves, one showing the amount of wine and cheese Alice would choose, one showing less preferred combinations of wine and cheese, and the last showing preferred but unaffordable combinations
Which of the following is a false statement about the structure of the Federal Reserve System?
A. Exporter and importer interests are reflected B. State and regional interests are reflected C. Government (public) and private interests are reflected D. Banker and business interests are reflected
Related to the Economics in Practice on page 673: If the candle makers in the petition were able to gain protection for their industry, the French economy would most likely
A. become more efficient. B. benefit in the short run. C. have to pay higher prices for candles. D. benefit only if the protection was in the form of a tariff.