Refer to Figure 7.1. In this case, the property rights belong to
A) Angus.
B) Dudley.
C) no one.
D) both Angus and Dudley.
A
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For a risk-averse individual, as wealth increases, total utility
A) increases at a decreasing rate. B) increases at a constant rate. C) increases at an increasing rate. D) is constant.
Which of the following actions will decrease the gross domestic product (GDP)? a. Tom's alarm clock breaks, so he buys a new one
b. Tom buys a new alarm clock because he tends to sleep through the first alarm. c. Tom's alarm clock breaks. He now oversleeps and has to buy a cup of coffee on the way to work instead of making it at home. d. Tom gets fired for being late often after his alarm clock breaks. e. Tom sells his broken alarm clock and uses the money to buy some French fries.
_____ and _____ are the two most important financial intermediaries
Fill in the blank(s) with correct word
Mathematically, the value of the tax multiplier in terms of the marginal propensity to consume (MPC) is given by the formula:
A. MPC ? 1. B. (MPC ? 1) / MPC. C. 1 / MPC. D. 1 ? [1 / (1 ? MPC)].