Ron weighs 150 pounds. A graph relating Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis would be
a. a horizontal line at weight = 150
b. a horizontal line at weight = 0
c. a positively sloped line with decreasing slope
d. a vertical line at weight = 150
e. the origin
A
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If the MPS is 0.1 and the income tax rate is 0.33 the marginal leakage rate for a closed economy is
A) 0.033. B) 0.23. C) 0.43. D) 0.397.
When Fed policy is addressing either a contractionary or inflationary gap, interest rates will be changed in the same direction as the intended change in real GDP
a. True b. False Indicate whether the statement is true or false
(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Refer to the above table. If demand is represented by columns (3) and (1) and supply is represented by columns (3) and (4), equilibrium price and quantity will be:
A. $7 and 30 units. B. $9 and 60 units. C. $10 and 60 units. D. $8 and 80 units.
The optimal level of provision of public goods is where society?s total willingness to pay per unit is equal to the
A. total cost of producing the good. B. marginal cost of producing the good. C. variable cost of producing the good. D. average cost of producing the good.