In Figure 3-7 above, the multiplier is
A) 2.
B) 0.2.
C) 5.
D) 2.5.
C
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A subsidy is
A) the revenue received from the government to produce a good or service by a public authority. B) a voucher received by the government from producers of goods and services. C) a payment that the government makes to private producers of goods and services. D) a tax imposed on the producers of certain goods or services. E) a tax imposed on the consumers of certain goods or services.
What percentage of American business firms are incorporated?
A. About 20 percent B. About 40 percent C. About 50 percent D. Over 60 percent
An allocation of resources is Pareto optimal if
A. no further mutually beneficial exchange is possible. B. it is possible to make everyone else better off. C. it is possible to make one person better off without making at least some others worse off. D. it is below the contract curve.
"Oligopoly is the only market structure in which rivalry among firms takes place." Do you agree or disagree? Why?
What will be an ideal response?