Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the average propensity to consume when real disposable income equals $1400?
A. 0.91
B. 0.7
C. 0.09
D. 1.1
Answer: A
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If the supply of coffee falls due to bad weather conditions in coffee-exporting countries, then the
a. price and quantity will rise b. price and quantity will fall c. price will fall and quantity will rise d. price will rise and quantity will fall e. quantity will fall, but price may rise or fall
Table 8-1 Item Amount (billions) Personal Consumption Expenditures 600 Depreciation 50 Wages 800 Indirect Business Taxes 10 Rental Income 25 Gross Private Domestic Investment 150 Corporate Profits 75 Net Exports 5 Government Purchases of Goods and Services 200 Government Transfer Payments 50 According to the data in Table 8-1, the value of NNP is
A. 900 B. 805 C. 750 D. 705
With respect to private goods, a Pareto optimal system is one in which ________ that make(s) some societal members better off without making others worse off have (has) been exhausted.
A. no trades B. all possible trades C. all profitable trades D. at least one trade
The achievement of full employment is a sufficient condition for the achievement of economic growth. Evaluate.
What will be an ideal response?