In the Keynesian consumption function
a. consumption is a constant fraction of income.
b. the marginal propensity to consume is constant.
c. disposable income determines consumption.
d. All of the above
e. None of the above
D
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The Zonamo company produces waste disposal machines and sells them to militaries all over the world. The company started last year with $10 million of capital on hand and invested $15 million in new capital throughout the year
At the end of the year, the company's capital stock was $17 million. Hence, for the year, depreciation equaled ________ and net investment equaled ________. A) $25 million; $5 million B) $5 million; $5 million C) $8 million; $7 million D) $7 million; $8 million E) $8 million; $15 million
"If production of a good creates an external cost, then, when production is such that the marginal private costs are equal to the marginal private benefits, the market outcome will be inefficient"
Explain whether this assertion is correct or incorrect.
Which of the following does the United States import?
a. cotton b. wheat c. oil seeds d. zinc e. barley
The market process avoids creative destruction
Indicate whether the statement is true or false