If the consumption function is defined as C = 5,500 + 0.9Y, what is the autonomous level of consumption expenditure?
A) $4,950
B) $5,500
C) $6,050
D) $6,111
B
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Are jobs the key to economic progress and the achievement of high income levels?
A) Yes, when full employment is present, the income levels of the residents will be at their maximum. B) Uncertain, jobs are the key for a market economy, but they are less important for a centrally planned economy. C) No, the people must be employed in jobs where they are producing goods and services that are valued highly relative to cost. D) Yes, as long as people are working, income levels will b
Assets that are used for money that have intrinsic value generally keep:
A. a less steady value than those that don't. B. just as steady a value as those that don't. C. a more steady value than those that don't. D. a value that is not comparable to other assets.
All of the following are deficit items in the balance of payments EXCEPT
A. imports of merchandise. B. purchases of foreign assets. C. foreign tourist expenditures. D. purchases of foreign currency.
Refer to the graph shown. If the government imposed a price ceiling of $4, producers' revenue would:
A. decline. B. remain unchanged. C. rise. D. It cannot be determined.