During a period of disinflation the purchasing power of the dollar _____.
Fill in the blank(s) with the appropriate word(s).
declines
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If your income increases from $33,000 to $41,000 and your consumption increases from $8,000 to $12,000 . your marginal propensity to consume (MPC) is:
a. 0.2. b. 0.4. c. 0.5. d. 0.8. e. 1.0.
Which of the following is NOT studied in microeconomics?
A. the impact of government spending on the unemployment rate B. the impact of higher fuel prices on the cost of airline tickets C. the effect of an increase in gasoline taxes on the purchase of gasoline D. the impact of firms' hiring choices on their employees' wages
Many firms use technology to gather information on the preferences of consumers and their responses to changes in prices. This information is then used to adjust prices of the firms' goods and services. This practice is called
A) price discovery. B) yield management. C) empirical research. D) econometrics.
Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, which of the following would NOT be a potential terms of trade?
A) 1 auto for 3 corn B) 1 auto for 4 corn C) 1 corn for 1/3 of an auto D) 1 corn for 1 auto