Who said, "It is not the employer who pays wages; he only handles the money. It is the product that pays wages."
A. Henry Ford
B. Karl Marx
C. Jackson Martindell
D. Studs Terkel
A. Henry Ford
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If the marginal propensity to save is 0.4, then a $2 million increase in disposable income will
A) increase consumption by $5 million. B) decrease consumption by $1.2 million. C) increase consumption by $1.2 million. D) decrease consumption by $5 million.
When an insurance company makes a direct loan to a firm, the loan is known as
A) a private placement. B) a commercial paper. C) an account receivable. D) an account payable.
Detrimental externalities like pollution are a shortcoming of the market mechanism. Do they occur in free market economies alone? Explain with examples.
What will be an ideal response?
A significant advantage to being a member of a trade bloc is
A) higher tariff collections from member countries. B) reduced or eliminated tariffs among member countries. C) reduced tariff rates only for the largest member countries. D) None of the above; there is no economic advantage to a trade bloc.