Which of the following is true of the agricultural sector in developing countries??
What will be an ideal response?
?Farm productivity is usually very low.
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"The income elasticity of a good is positive if a consumer increases the total spending on that good as a result of an increase in its market price." Do you agree or disagree? Why?
What will be an ideal response?
Jane's Garage Cleaning is a perfectly competitive firm that currently cleans 40 garages a week. Jane's marginal cost is less than the price she charges. Jane can increase her profit if she
A) charges a higher price. B) charges a lower price. C) cleans fewer than 40 garages a week. D) cleans more than 40 garages a week.
When we speak of the national debt, we refer to the federal government debt only
a. True b. False Indicate whether the statement is true or false
If the marginal propensity to save is 0.3 and the marginal propensity to import is 0.2, then value of the simple spending multiplier is
A. 0.5. B. 0.1. C. 1.5. D. 2.0.