If a teacher tells a student that those who attend the study session typically score higher on the final exam,
A) the student has a positive incentive to attend the study session because she may get a higher grade.
B) the student has a negative incentive to attend the study session because she will be punished if she does not go.
C) the student has no greater incentive to attend because there is no guarantee she will get a higher grade on the exam.
D) a "C" student will be making an irrational decision if she decides to skip the study session since she has plenty of time to go.
A
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The marginal propensity to save (MPS) is
A) the rate at which real savings changes over time. B) the percentage of real disposable income saved. C) the difference between the amounts of real disposable income consumed and saved. D) the percentage of an additional dollar of real disposable income that will go toward additional real savings.
Which of the following is false? a. If a choice is rational for an individual, people would all agree that it was wise
b. Rational choices can be wrong. c. When circumstances or expectations change, what is rational for an individual could change. d. None of the above are false; all are true.
If the price level does not fall or only falls very slowly, then the result will be a prolonged period of
a. inflation whenever supply increases. b. production below potential GDP. c. production above potential GDP. d. rapid price increases when demand changes.
Suppose the following information describes the economy:Government purchases of goods and services1,000Household saving2,000Government transfers and interest payments500Tax collections1,500Business saving2,500Private saving equals ________; public saving equals ________; national saving equals ________.
A. 500; -1,500 B. 4,500; 0 C. 4,500; 1,000 D. 1,000; 1,000