The marginal propensity to consume explains how much of the next dollar of disposable income
A. a business will invest.
B. the government will spend.
C. a household will spend.
D. foreign residents will use to purchase domestic exports.
Answer: C
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If you want to purchase a new sailboat in two years for $9,000, how much would you presently need to have in your bank account to have $9,000 in two years? Assume your bank account pays 3 percent interest
A) $8,484 B) $8,613 C) $8,738 D) $8,822
The above figure shows the market for labor. The employer is a monopsony. At the equilibrium level of employment, which of the following is CORRECT?
A) MCL = VMP B) VMP > W C) W < MCL D) All of the above are correct.
Opportunity cost:
a. represents the best alternative sacrificed for a chosen alternative. b. has no relationship to the various alternatives that must be given up when a choice is made in the context of scarcity. c. represents the worst alternative sacrificed for a chosen alternative. d. Represents all possible alternatives sacrificed for a chosen alternative.
Day laborers who are in the United States illegally and work off the books are:
A. part of the nonmarket transactions that are omitted from GDP. B. part of the underground economy, which is not measured in GDP. C. production by noncitizens, which is included in GNP but not in GDP. D. one of the items included in the genuine progress indicator.