Based on Table 9.2, total savings, private plus public, is equal to
A) 3 percent of GNP.
B) 18 percent of GNP.
C) 16 percent of GNP.
D) 20 percent of GNP.
C
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Refer to the table above. After applying the second bag of fertilizer, the farmer experienced
A) constant returns. B) diminishing returns. C) increasing returns. D) negative returns.
Which of the following is the second step when forming a group?
a. storming b. norming c. forming d. conforming
Suppose that a $0.75-tax is placed on gasoline. Under what circumstances will gasoline sellers end up shouldering the full burden of the tax?
A. If supply is perfectly inelastic, and demand is downward-sloping B. If demand is perfectly inelastic, and supply is upward-sloping C. If supply is upward-sloping and demand is perfectly elastic D. The consumer and the seller always share the burden of the tax
Cross-price elasticity of demand is
A. negative for substitute goods. B. positive for general goods. C. negative for complementary goods. D. unitary for secondary goods.