Macroeconomic statistics tell us about a particular household, firm, or market
a. True
b. False
Indicate whether the statement is true or false
False
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If Y = $500 billion, autonomous consumption = $400 billion, and the marginal propensity to save = 0.20, then saving will equal
a. –$300 billion b. $300 billion c. $0 d. $80 billion e. –$80 billion
A typical automobile insurance policy is an example of:
A. property and casualty insurance. B. property insurance only. C. liability insurance only. D. casualty insurance only.
Most studies indicate that tobacco and marijuana tend to be
a. substitutes. b. complements. c. unrelated because one good is legal while the other one is illegal. d. inferior goods.
Demand for a factor can shift for all of the following reasons except?
A. Change in demand for the final product B. Change in the factor's price C. Change in the price of other factors D. Change in technology