Refer to the information provided in Table 24.5 below to answer the question(s) that follow.Table 24.5All Numbers are in $ Million
Refer to Table 24.5. The MPC in this economy is ________ and the MPS is ________.
A. 0.5; 0.5
B. 0.9; 0.1
C. 0.8; 0.2
D. 0.7; 0.5
Answer: C
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Explain how a firm makes an investment decision
What will be an ideal response?
Return to the case of education and the job market from the previous question. Which condition would be consistent with both types' obtaining an education in equilibrium?
a. cH < w < cL. b. cL < w < cH. c. cH < cL < w. d. w < cL < cH.
In the U.S. economy, the effect on federal tax revenues and spending of an increase in the unemployment rate is to:
a. cut tax revenues and raise expenditures. b. cut expenditures and raise tax revenues. c. raise both tax revenues and expenditures. d. cut both expenditures and tax revenues.
Unreimbursed medical expenses in excess of 8.5% of AGI are tax deductible.
A. True B. False C. Uncertain