The MPC is equal to the
A) level of consumption expenditure divided by the level of total disposable income that brought it about.
B) change in consumption expenditure divided by the total disposable income that brought it about.
C) change in disposable income divided by the change in consumption expenditure.
D) level of consumption divided by the change in disposable income that brought it about.
E) change in consumption expenditure divided by the change in disposable income that brought it about.
E
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Economic growth is usually defined as
A) the increase in output over time, as measured by real per capita Gross Domestic Product (GDP). B) the reduction in the real cost of necessities. C) the rate of increase in output divided by the increase in labor. D) the increase in input availability.
The Coase theorem states that
A. positive externalities are directly related to the weather-the better the weather, the more positive externalities. B. in the case of trivial or zero transaction costs, negative externalities are more likely to appear. C. when transaction costs are high, positive externalities will be minimized. D. in the case of trivial or zero transaction costs, the property rights assignment does not matter to the resource-allocative outcome.
Economics
A) is a social science. B) is concerned with limited resources. C) is concerned with unlimited wants. D) All of the above are correct.
There are only increases in total surplus when a country exports a good, since more units of the country's output of that good are produced
a. True b. False Indicate whether the statement is true or false