The Cournot model assumes that the firms take their competitors output as fixed.
Answer the following statement true (T) or false (F)
True
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If consumption is $750 when real disposable income is $1,000, the average propensity to consume is
A) 0.50. B) 0.25. C) 0.80. D) 0.75.
The vicious circle of poverty makes it difficult for an LDC to:
a. establish political institutions. b. control inflation. c. save and invest. d. fix its exchange rate.
Which of the following statements is true?
(a) A barter system requires a double coincidence of wants. (b) Holding cash is a good way of preserving the value of assets. (c) Commercial banks must cover their deposits fully with cash reserves. (d) A fall in reserve requirements forces banks to curtail credit.
During this century, the growth rate of real GDP in the United States has averaged approximately
What will be an ideal response?