In the years after 1998, the most severe recession occurred during
A) 1998.
B) 2000-2001.
C) 2008-2009.
D) 1999-2001.
E) 2005.
C
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Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the average propensity to consume when real disposable income equals $4,000?
A) 0.7 B) -0.45 C) 1.45 D) 0.69
Many large universities rent out parts of their campuses to conference groups during the summer because such groups cause little damage, require little staff attention, and bring in large amounts of income. A university's decision to rent its campus to a conference group is most clearly based on
a. the idea that price and quantity selection is a single decision. b. the principle of decreasing returns to scale. c. marginal analysis. d. average cost considerations.
If a country has a high level of growth in income, it:
A. must have a high level of income. B. must be rapidly increasing its GDP per capita. C. must have an equitable distribution of wealth. D. All of these are true.
Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.
Figure 33.4Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, ________ revenue in this country will be $500.
A. import B. tariff C. export D. total