Marginal propensity to save (MPS) is equal to:
a. 1 - MPC.
b. MPC - 1.
c. MPC + 1.
d. 1/MPC
a
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Marginal utility can be
A. positive, but not negative. B. positive, negative, or equal to zero. C. decreasing, but not negative. D. positive or negative, but not equal to zero.
The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture
A quota to prevent the overuse of the common pasture sets the number of goats to be raised equal to ________. A) 0 goats B) 40 goats C) 50 goats D) 55 goats
The most common form of trading goods for goods is
A. bilateral trade. B. government commodity distribution. C. status-based trades. D. barter. E. payments in kind.
When the economy is experiencing a negative output gap:
A. the economy may be in a recession. B. there is little inflationary pressure due to low demand. C. some people and some capital are unemployed. D. All of these statements are true.