Use the above table. The MFC of the 3rd worker is
A) $5.
B) $30.
C) $20.
D) $6.7.
B
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Refer to Figure 9-3. What is the area of consumer surplus after the imposition of the quota?
A) A B) G + H C) A + G + H D) G + H + E + I+ J + M
In discussing the distribution of income among families, the term “lowest fifth” indicates
a. the poorest five percent of families. b. the poorest twenty percent of families. c. the smallest twenty percent of families. d. the percentage of families receiving one-fifth of the income.
Of the total income earned in the U.S. economy, approximately
a. 33 percent is earned by workers, and 67 percent is earned by landowners. b. 50 percent is earned by workers, 25 percent is earned by landowners, and 25 percent is earned by owners of capital. c. 67 percent is earned by workers, and 33 percent is earned by owners of land and capital. d. 90 percent is earned by workers, and 10 percent is earned by owners of land and capital.
If you were told the MPC was = 0.75 and the government engaged in a spending increase of $400B, then the change in GDP would be:
A. $1200B B. $300B C. $400B. D. $1600B.