If MPC equals .82, MPS would equal ______________.
Fill in the blank(s) with the appropriate word(s).
.18
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According to the short-run Phillips curve, which of the following would result in low rates of unemployment?
A) a higher inflation rate B) weak increases in aggregate supply C) a lower inflation rate D) weak increases in aggregate demand
If marginal revenue equals marginal cost, the firm is maximizing profits as long as
A) the resulting profits are positive. B) marginal cost exceeds marginal revenue for greater levels of output. C) the average cost curve lies above the demand curve. D) All of the above are required.
The Equal Employment Opportunity Commission
a. was established by the Equal Rights Act of 1984 b. examines cases in which a worker is not paid the same as other workers performing the same work c. guarantees a worker's right to a job d. established a minimum wage for minorities e. has effectively eliminated racial discrimination in the workplace
Which scenario shows how money functions as a means of deferred payment?
a. Lorelai knows that a peach costs $0.50 and a latte costs $5, so a latte is equal to 10 peaches. b. Darius puts money into a savings account and uses it to pay for a vacation at the end of the year. c. Julio gives Patrick $5 and Patrick gives Julio a sandwich in exchange. d. Every month, Candace sends a check for $300 to the company that services her student loans.