The supply curve shows the relationship between the
A. price of the product and quantity supplied.
B. quantity demanded and the quantity supplied.
C. cost of production and the price of the product.
D. cost of resources and cost of production.
Answer: A
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When nominal interest rates are held below inflation rates, then households will have an incentive to
A. consume. B. save. C. purchase financial assets. D. postpone current consumption plans.
If 9 workers can produce 1,550 units of output and 10 workers can produce 1,700 units of output, then the marginal product of the 10th worker is
A) 1,700 units. B) 1,550 units. C) 150 units. D) 170 units. E) 155 units.
The Darity-Myers thesis states that
A. he heritage of slavery is largely to blame for black poverty. B. welfare dependency creates a culture of poverty. C. black men have become less useful in the emerging economic order and have become marginalized. D. the root problem of black poverty is the high pregnancy rate of unmarried teenage girls.
Last year, Linus earned a salary of $25,000 and he spent $24,000, thus saving $1000. At the end of the year, he received a bonus of $1000 and he spent $500 of it, saving the other $500. What was his marginal propensity to consume?
A. .96 B. .04 C. .50 D. .02