Which of the following statements is TRUE for the U.S. economy?
A) Supply of services always reflects all social costs.
B) Demand for services always reflects all social costs.
C) Private costs are not always equal to social costs.
D) Social benefits are always emphasized in advertising.
C
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The average propensity to consume (APC) equals
A) the change in consumption expenditures divided by the change in real disposable income. B) real disposable income divided by consumption expenditures. C) the change in real disposable income divided by the change in consumption expenditures. D) consumption expenditures divided by real disposable income.
The bargaining power of Transnational Corporations is likely to be greatest when they are looking for
a. specific natural resource b. low-wage labor c. marketing centers d. licensing agreements
The multiplier equals
A) consumption/real disposable income. B) change in consumption/change in real disposable income. C) 1/MPC. D) 1/(1 - MPC).
If the market ratio of silver to gold is 16 to 1 and the mint ratio is 15 to 1,
a. people will cease to use gold and silver as money. b. the Treasury will be forced to issue paper money. c. gold is undervalued at the mint. d. silver is undervalued at the mint.