The slope of the consumption function is
A) equal to the MPC and is equal to 1.
B) not equal to the MPC and is equal to 1.
C) equal to the MPC and is less than 1.
D) equal to the MPC and is greater than 1.
E) not equal to the MPC and is less than 1.
C
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In an oligopoly, output is
A) less than the output in monopoly. B) greater than the output in perfect competition. C) in all circumstances the same as the output in perfect competition. D) somewhere between the output in monopoly and that in perfect competition outcomes. E) in all circumstances the same as the output in monopoly.
List four characteristics of monopolistic competition
What will be an ideal response?
The opportunity cost of producing a bicycle refers to the:
a. out-of-pocket payments made to produce the bicycle. b. value of the goods that were given up to produce the bicycle. c. bicycle's retail price. d. marginal cost of the last bicycle produced.
The Fed's open market operations involve
a. buying and selling of government bonds b. changes of the discount rate c. setting the required reserve ratio d. buying and selling corporate bonds e. a policy of last resort used to avert a financial crisis