Refer to the consumption schedule above. If disposable income is $42,000, then saving is:
$4,000
$2,000
$0
$6,000
$6,000
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According to the classical model, desired saving is
A) affected by the money illusion at low income levels. B) identical to the demand for saving at each level of real GDP. C) a function of real GDP. D) equal to desired investment.
Which of the following is NOT a financial institution?
A) a life insurance company B) a pension fund C) a credit union D) a business college
International trade is advantageous because trade makes it possible for people in each country to
a. import more than they export. b. export more than they import. c. employ more of their domestic resources producing things that are costly for them to produce domestically. d. acquire goods from foreigners more economically than they could be produced domestically. e. do all of the above.
As a result of a successful attempt by government to cut the economic pie into more equal slices,
a. the pie gets larger, and there will be more pie overall. b. the pie gets smaller, and there will be less pie overall. c. it increases the reward for working hard, resulting in people producing more goods and services. d. those who earn more income pay less in taxes.