Keynes reasoned that consumer expenditure is most closely related to
A) the level of interest rates.
B) the price level.
C) disposable income.
D) the marginal tax rate.
C
You might also like to view...
A household's reservation wage is the ________
A) lowest wage rate at which the household will supply labor B) wage at which the household's labor supply curve bends backward C) wage rate at which the household's income is largest D) highest wage rate at which the household will supply labor
If Canada has a comparative advantage relative to Mexico in the production of timber, then
A) the opportunity cost of production for timber is lower in Canada than in Mexico. B) the explicit cost of production for timber is lower in Canada than in Mexico. C) the implicit costs of production for timber are higher in Canada than in Mexico. D) the average cost of production for timber is lower in Canada than in Mexico.
Which of the following would be recorded as a credit in the U.S. balance of payments accounts?
a. the purchase of a German business by a U.S. investor b. the import of Honda trucks by a U.S. automobile distributor c. European travel expenditures of an American college student d. the purchase of a U.S. Treasury bond by a French investment company
In order to be drawn correctly, the minimum of the AVC is
A. vertically straight down from the minimum of the ATC (neither to the right nor left). B. to the left and up of the minimum of the ATC. C. to the left and down from the minimum of the ATC. D. to the left and up from the minimum of the MC.