Which of the following relations is not correct?
A. 1 - MPC = MPS.
B. APS + APC = 1.
C. MPS = MPC + 1.
D. MPC + MPS = 1.
C. MPS = MPC + 1.
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If a person's indifference curves can be represented as a straight line, the person views the goods as
a. perfect substitutes b. perfect complements c. complements (but not perfect) d. substitutes (but not perfect)
In what ways does the original Phillips curve differ from the Phillips curve created by economists Samuelson and Solow? What conclusions did economists draw based on the findings of Phillips, Samuelson and Solow?
An office worker who estimates that he would save money by driving to work rather than taking the bus, but who chooses to take the bus because driving in rush-hour traffic frightens him, is
What will be an ideal response?
Macroeconomics
What will be an ideal response?