The slope of the scatter diagram representing the relationship between consumption and disposable income in the United States is approximately
a. 1.10.
b. 0.30
c. 0.50
d. 0.90
d
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Bob invests $75 in an investment that has a 50% chance of being worth $100 and a 50% chance of being worth $0. From this information we can conclude that Bob is
A) risk preferring. B) risk neutral. C) risk averse. D) irrational.
For a given price level, which of the following correctly indicates how to find the quantity of real GDP demanded?
a. Where the consumption function crosses the savings curve b. Where the demand for investment curve crosses the labor supply curve c. Where real GDP equals aggregate expenditure d. Where the labor supply curve crosses the consumption function
Over the past several decades in the United States, the labor-force participation rate of women has
a. increased, and the labor-force participation rate of men has increased. b. increased, and the labor-force participation rate of men has decreased. c. decreased, and the labor-force participation rate of men has increased. d. decreased, and the labor-force participation rate of men has decreased.
Economic progress
a. reflects that people are achieving higher income levels and living standards. b. requires that individuals work longer hours. c. indicates that scarcity is no longer a problem. d. indicates income levels are higher even though environmental and health conditions have worsened.