The most important determinant of any multiplier in the Keynesian model is
a. the level of planned investment.
b. the level of unemployment.
c. the marginal propensity to consume.
d. the level of excess demand.
C
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In deciding whether to operate in the short run, the firm must consider the relationship between price and
A) total cost. B) average variable cost. C) total fixed cost. D) the number of buyers.
Which of the following is a measure of the explanatory power of the regression model?
A) t-test B) R2 C) F-test D) Durbin-Watson test
Use the table below to answer the following question.UnitsMaximum Willingness to PayMarket Price1$14$821283108488568648What is the value of consumer surplus in the table above?
A. $12 B. $6 C. $44 D. $54
When the production of a good has a marginal external cost, which of the following occurs in an unregulated market?
i. Overproduction relative to the efficient level will occur. ii. The market price is less than the marginal social cost at the equilibrium quantity. iii. A deadweight loss occurs. A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii