If in the economy, business saving equals $300 billion, household saving equals $10 billion and government saving equals -$200 billion, what is the value of national saving?
A. $210 billion
B. $310 billion
C. $110 billion
D. $10 billion
Answer: C
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The figure above shows one of Bob's indifference curves for CDs and books
a) Is the indifference curve steeper at point a or point b? b) What is Bob's marginal rate of substitution at point a? c) What is Bob's marginal rate of substitution at point b?
Which of the following is one of the necessary conditions for perfect competition?
A. Diminishing utility B. Indivisible setup costs C. No barriers to entry D. Differentiated products
A tariff has the effect of:
A. raising the price of the imported product. B. increasing the demand for the exported product. C. increasing the demand for the imported product. D. increasing the supply of the imported product.
Absent externalities and public goods, a perfectly competitive system is equitable.
Answer the following statement true (T) or false (F)