Autonomous planned spending is a function of the
A) marginal propensity to consume.
B) marginal propensity to save.
C) interest rate.
D) tax rate.
C
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Answer the next question based on the following supply and demand schedules in units per week for a product.PriceQuantity DemandedQuantity Supplied$601004005014034040180280302202202026016010300100If demand increased by 100 units at each price level, and the government set a price ceiling of $40, then there will be
A. a surplus. B. no shortage or surplus. C. decrease in supply. D. a shortage.
Suppose your grandfather earned a salary of $12,000 in 1964. If the CPI is 31 in 1964 and 219 in 2016, then the value of your grandfather's salary in 2016 dollars is approximately
A) $84,775. B) $63,830. C) $37,200. D) $26,280.
Greater availability of lower-cost drugs will tend to shift the ________ curve for medical services to the ________
A) demand; right B) supply; left C) supply; right D) demand; left
Classify the following goods into public goods, private goods, club goods, or common resources with suitable reasons
a. Congested roads b. Education provided by a university