How much is autonomous consumption when disposable income is $2 trillion?
$1 trillion
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From the mid 1980s to the present, the United States
a. had only a small current account deficit. b. had a large capital account deficit, which in the balance of payments accounts was financed with a surplus in the current account, which in turn financed investment in excess of domestic saving. c. has had a large current account deficit, which in the balance of payments accounts was financed with a surplus in the capital account, that in turn financed investment in excess of domestic saving. d. None of the above
On a part of the demand curve where the price elasticity of demand is less than 1, a decrease in price:
a. is impossible. b. will increase total revenue. c. will decrease total revenue. d. raises the price elasticity of demand. e. decreases quantity demanded.
If a perfectly competitive firm sells 50 units of output at a market price of $10 per unit, its marginal revenue is:
a. more than $10. b. less than $10. c. $10. d. $5300.
A major advantage of monetary policy over fiscal policy is that monetary
a. policy affects all sectors of the economy equally. b. policy can be put into effect more quickly. c. policy, once implemented, takes effect more quickly. d. authorities see the need for policy more quickly.