If national income increases by $20 million and consumption increases by $5 million, the marginal propensity to consume is
A) 4. B) 0.75. C) 0.5. D) 0.25.
D
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With perfect price discrimination, the quantity of output produced by a monopoly is ________ the quantity produced by a perfectly competitive industry
A) greater than but not equal to B) less than C) equal to but not greater than D) not comparable to E) either greater than or equal to
A single-price monopoly's demand curve lies
A) below its marginal revenue curve. B) on top of its marginal revenue curve. C) above its marginal revenue curve. D) on top of its total revenue curve.
A major stumbling block to the completion of the Uruguay Round was a disagreement between the United States and the EU over rules covering international trade in
A) services. B) steel. C) agricultural products. D) textiles.
Recent proposals to allow the Social Security trust fund to invest in the stock market (instead of buying government bonds) are based on the premise that
A) the returns to stocks are higher than the returns to bonds. B) the returns to stocks aren't as risky as the returns to bonds. C) the transactions costs for investing in stocks are lower than the transactions costs for investing in bonds. D) stocks are more liquid than bonds.