The multiplier equals
A) consumption/real disposable income.
B) change in consumption/change in real disposable income.
C) 1/MPC.
D) 1/(1 - MPC).
D
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_____ has the primary responsibility for developing the early stages of the government's budget
a. The executive branch b. The Treasury Department c. The House of Representatives d. The Senate
Because the smallcountry monopolist loses the ability to control the market price, consumers enjoy more quantity, competitive prices, and:
a. a bonus because the foreign goods are of higher quality. b. a loss because the monopoly loses profits. c. higher consumer surplus because the monopolist's producer surplus is reduced. d. a loss because now unions have less power than before.
Suppose you pay $800 for a new iPhone. This is an example of
A. money as a standard of deferred payment. B. money as a medium of exchange. C. money as a store of value. D. barter.
Social costs of a good are equal to
A. external costs minus private costs. B. private costs plus external costs. C. external costs divided by the private costs. D. private costs minus external costs.