Each point on the demand curve reflects
A) all the wants of a given household.
B) the highest price consumers are willing and able to pay for that particular unit of a good.
C) the highest price sellers will accept for all units they are producing.
D) the lowest-cost technology available to produce a good.
B
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If the marginal propensity to save (MPS) increases, the multiplier
A) decreases. B) can either increase or decrease, depending on what happens to the marginal propensity to consume (MPC). C) increases. D) stays the same.
Economic growth causes the PPF to
A) shift leftward. B) shift rightward. C) remain constant. D) go from a straight line to a curve.
?The maximum likelihood estimates for Tobit models can be more easily obtained than the OLS estimates of a linear model.
Answer the following statement true (T) or false (F)
A grocery store with few choices is found is most likely found in a nation with a market economy
a. true b. false