The marginal propensity to consume is always
a. a negative number
b. larger than 1.0
c. larger than 10
d. greater than zero and less than 0.5
e. greater than zero and less than 1.0
E
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The distribution of income typically refers to how income is distributed across the population ________. Income mobility looks at how a person or family's income changes ________
A) over a lifetime; each year B) by age group; by education level C) by race and gender; based on the state of the economy D) in a particular year; over time
Applying neoclassical theory to the housing market, ________ cause a decrease in the user cost of housing
A) higher expected household incomes B) higher rates of household formation C) increases in the expected relative price of housing D) tighter constraints on mortgage financing
Which nation listed below is successfully transitioning from a planned economy to a hybrid market economy?
A. People’s Republic of China B. Japan C. United Kingdom D. United States
Which of the following statements is true?
A. The effect of a compensated price change = the substitution effect of the price change + the income effect of the price change. B. The effect of an uncompensated price change = the substitution effect of the price change - the income effect of the price change. C. The effect of an uncompensated price change = the income effect of the price change - the substitution effect of the price change. D. The effect of an uncompensated price change = the substitution effect of the price change + the income effect of the price change.