How much is the APC when disposable income is $8 trillion?
$6 trillion/$8 trillion = ¾ = .75
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Other things being equal, a higher saving rate
A) means higher standards of living today. B) is associated with a decline in the rate of growth of the population. C) means higher standards of living in the future. D) leads to higher interest rates.
Suppose inflation comes in the form of an across-the board increase in all prices by some percentage k. For a consumer with exogenous income operating in a 2-good world, this will cause the budget constraint to
A. rotate inward B. rotate outward C. shift out in a parallel way D. shift inward in a parallel way E. none of the above
A budget surplus is the
A. total amount owed by the federal government. B. amount by which expenditures exceed revenues. C. amount by which revenues fall short of projections. D. amount by which revenues exceed expenditures.
A nation that has a comparative advantage in a product will not import any of it.
a. true b. false