The marginal propensity to consume is the slope of the consumption function
Indicate whether the statement is true or false
TRUE
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Refer to the figure above. What is the consumer surplus when Lithasia engages in trade and the government imposes a $1 tariff on chairs?
A) $100 B) $120 C) $180 D) $200
If a monopolist owns or controls a key resource necessary for production, it is a source of:
A) legal market power. B) natural market power. C) regulated market power. D) restricted market power.
Education is an example of
a. investment in physical capital. b. investment in human capital. c. investment in natural resources. d. technological change. e. none of the above.
When money serves as a means for determining the relative worth of goods, services, and resources, it is functioning as a:
A. standard of deferred payment. B. store of value. C. unit of account. D. medium of exchange.