Microcomputer software is a pure public good
a. True b. False
a
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Parties to the contract prefer to keep the actual agreement incomplete when:
a. they have conflicting terms and conditions. b. they are large in count. c. the economic value of the contract is low. d. the cost of negotiation is high.
According to Modigliani's life-cycle hypothesis, the marginal propensity to consume
a. changes over a lifetime: it's higher in the earlier and later periods of a person's working life, and lower in the middle years b. is constant over a person's working life c. changes over a lifetime: it's lower in the earlier and later periods of a person's working life, and higher in the middle years d. is determined by a person's permanent income and has nothing to do with the transitory incomes earned over a life time e. changes over a lifetime: it's higher in the earlier and middle periods of a person's working life, and lower in the later years
Suppose the marginal propensity to consume is 0.8. According to the model in the text, how much would equilibrium output go up if the government increased spending by $500 million (assuming all other factors are held constant)?
Select one: a. $400 million b. $625 million c. $900 million d. $2,500 million
Law of demand
What will be an ideal response?