If MPS = .25, MPC must be _______ and national income is _______
a. 1.75; $750 billion
b. 1.25; $75 billion
c. 0.75; not discernible with the information provided
d. 0.25; not discernible with the information provided
e. 0.75; $75 billion
C
You might also like to view...
Based on the assumptions in the Application, should Rory hire a gardener or cut the weeds himself?
A) He should hire the gardener because he would save $800. B) He should cut the weeds himself because he would save $1,000. C) He should hire the gardener because he would save $1,000. D) He should cut the weeds himself because he would save $200.
Changes in domestic and foreign income result in:
A) movements along the demand and supply curves of the foreign exchange market. B) shifts in the demand and supply curves of the foreign exchange market. C) all of the above. D) none of the above.
The New Economy is one of
a. durable goods. b. services. c. information. d. manufacturing.
Hutch Technology makes computer monitors, which sell for $100 each. What is the opportunity cost of ten monitors?
a. $1,000. b. the other goods that could be produced with the resources that produce the ten monitors c. the profits that Hutch earns when it sells the ten monitors d. the profits that Hutch loses if it does not produce the monitors e. All of the above are correct.