The vertical intercept of line (3) on the graph below is:
A. 16
B. 24/16 or 1.5
C. 24
D. -24/16 or -1.5
Answer: A
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In the aggregate expenditures model, consumption depends on
A. disposable income. B. the natural rate of unemployment. C. whether the government has a budget surplus or deficit. D. potential output.
On November 20, 1985, the Bank of New York needed to use the lender of last resort function due to:
A. a rumor that the bank was about to be taken over by FDIC due to insolvency. B. a computer error caused the bank's records to wipe out the balances of all of its customers. C. a run on the bank started by a rumor that the president of the bank embezzled tens of millions of dollars from the bank. D. a computer error that made it impossible for the bank to keep track of its Treasury bond trades.
If the MPC is .8 and disposable income is $200, then:
A. consumption and saving cannot be determined from the information given. B. saving will be $20. C. personal consumption expenditures will be $80. D. saving will be $40.
Of the following high-income countries, which has the lowest infant mortality rate?
A) Canada B) Japan C) the United Kingdom D) the United States