In a one-period economy
A) consumption equals disposable income.
B) consumption equals disposable income plus the value of non-market work.
C) savings is always positive.
D) consumers may increase their consumption by borrowing.
A
You might also like to view...
In the above figure, if the market is competitive and unregulated, the price will be
A) $20 per unit. B) $15 per unit. C) $10 per unit. D) $5 per unit.
Along an IS curve as interest rates __________, income must be __________ so that saving, which is a positive function of income, can be lower to equal the smaller level of investment
A) decline; lower B) decline; higher C) increase; lower D) increase; higher
Which of the following is likely in a monopolized market?
a. a price that exceeds marginal cost b. a price that exceeds marginal revenue c. a welfare loss due to the restriction of output d. all of the above
Profit is the difference between revenue and
A. cost. B. average product. C. marginal product. D. long-term costs.