Refer to the information provided in Table 23.8 below to answer the question(s) that follow. Table 23.8
Refer to Table 23.8. Planned saving equals planned investment at an aggregate output level of
A. $4,000 million.
B. $5,000 million.
C. $6,000 million.
D. $7,000 million.
Answer: C
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The four-firm concentration ratio is calculated by adding the _____________ of the four largest firms in the industry.
a. profits b. total earnings c. market shares d. costs of wages
Suppose that when disposable income increases by $1,000, consumption spending increases by $750. Given this information, we know that the marginal propensity to save (MPS) is
A. 1.33. B. 4. C. 0.75. D. 0.25.
Explain the problems giving rise to this statement: “You would think the government would want to do something to improve economic conditions when the economy is in trouble, but the government is slow to act.”
What will be an ideal response?
The United States is a member of the OPEC cartel.
Answer the following statement true (T) or false (F)