The fraction of each added dollar of disposable income that is used for consumption is called the:
a. average propensity to consumer (APC).
b. autonomous consumption rate (ACR).
c. marginal consumption propensity (MCP).
d. marginal propensity to consume (MPC).
d
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If a country pegs its currency to a foreign currency, it no longer has the ability to use monetary policy to stabilize the economy because:
A. it no longer has a central bank. B. banks will begin to hold 100 percent of their deposits in reserves. C. monetary policy must be used to keep the exchange rate's market equilibrium value at its official value. D. it must eliminate its currency from circulation and replace it with the foreign currency.
Automatic stabilizers _____
Fill in the blank(s) with the appropriate word(s).
One difference between moral hazard and adverse selection is
a. ?Adverse selection is when you choose the wrong answer on a test b. ?Moral hazard has to do with unobservable characteristics of individuals c. ?Adverse selection is individuals change their behaviors because of a contract d. ?Moral hazard has to do with unobservable actions of individuals
The Federal court case against Microsoft, filed in 1998, was based on the:
A. Clayton Act B. Sherman Act C. Equal Employment Opportunities Act D. Federal Trade Commission Act