The percentage share of income of the bottom quintile on curve X is



A. 0.

B. 5.

C. 10.

D. 15.


B. 5.

Economics

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The marginal propensity to consume is the slope of the consumption function

Indicate whether the statement is true or false

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From 2002 to 2003, personal income rose by $352 billion. If the MPC = 0.9, then personal consumption expenditures rose by

a. $31.68 billion b. $35.2 billion c. $3.52 billion d. $387.2 billion e. $316.8 billion

Economics

The equilibrium price of a good in market A is $24. The current price of the good in market A is $21. At this price, a(n) ________________________ of the good exists in market A

A) surplus B) shortage C) excess supply D) excess demand E) b and d

Economics

Comparative advantage occurs when a person or a country can produce a good or service at a lower ____ than others.

A. fixed cost B. variable cost C. opportunity cost D. total cost

Economics