Where the consumption function intersects the 45-degree line
A) consumption will equal only autonomous consumption.
B) the average propensity to consume is 0.5.
C) savings will be negative.
D) saving will be zero.
D
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Labor productivity is measured by dividing Gross Domestic Product (GDP) by population
Indicate whether the statement is true or false
The egalitarian principle of income refers to
A) each person being paid differently. B) each person receiving the same income. C) each person receiving tax breaks. D) each person working the same number of hours.
Select the normative statement that completes the following sentence: If the minimum wage is raised:
a. cost per unit of output will rise. b. workers will gain their rightful share of total income. c. the rate of inflation will increase. d. profits will fall.
One of the negative consequences of unemployment is a(n): a. loss of human capital
b. loss of physical capital. c. increase in aggregate demand. d. increase in inflation.