An increase in the marginal propensity to save (MPS)
A) increases autonomous consumption.
B) increases the value of the multiplier.
C) increases the marginal propensity to consume (MPC).
D) none of the above.
D
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Among the distinguishing characteristics of different types of markets are
a. the number of firms in an industry. b. the presence or absence of product differentiation. c. the ability of any or all firms in an industry to influence market price. d. All of these.
There is no free lunch means
A) each action has a cost. B) each choice involves a free item. C) each decision has elements of free goods in it. D) if you get your lunch paid for by someone else, it is free, but if you have to pay, it is not free. E) if you are invited to lunch by someone, you are not expected to pay for it.
A big downside to deregulation was that the increased competition drove some firms out of business and many workers:
a. were laid off. b. went on strike. c. went over to the competition. d. stole company property.
Consider a perfectly competitive market, with no externalities. A binding price ceiling is imposed. The decrease in market quantity relative to the perfect competition outcome is bigger when:
A. Supply is elastic B. Supply is inelastic C. Demand is elastic D. Demand is inelastic E. Need more information.