One way of reducing our trade deficit would be to get Americans to
A. save more and consume more.
B. save more and consume less.
C. save less and consume less.
D. save less and consume more.
B. save more and consume less.
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A change in the amount saved due to a change in income is represented by a
A. shift of the entire saving schedule. B. movement along the saving schedule. C. change in the marginal propensity to consume. D. change in the marginal propensity to save.
Marginal cost is the change in the:
A) total cost associated with producing one more unit of output. B) average total cost associated with producing one more unit of output C) average variable cost associated with producing one more unit of output. D) opportunity cost associated with producing one more unit of output.
The money supply is very sensitive to changes in the rate of interest
a. True b. False Indicate whether the statement is true or false
Assume that an industry requires a very specialized technology that involves high start-up costs for new firms no matter what level of output they produce. In the long run, at low levels of output, these firms will tend to exhibit
a. diminishing marginal returns b. increasing marginal returns c. diseconomies of scale d. constant returns to scale e. economies of scale