Which of the following would tend to encourage a faster rate of long-run economic growth?
A. An increase in the supply of innovative activities
B. A decrease in basic research
C. A decrease in the demand for innovative activities
D. A decrease in the immigration of engineers and scientists
Answer: A
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Refer to Table 23-4. Given the consumption schedule in the table above, the marginal propensity to consume is
A) 0.5. B) 0.6. C) 0.75. D) 0.8.
When Jack's income increases by $1,000, he spends an additional $850 dollars. This implies that his marginal propensity to save is 0.85
Indicate whether the statement is true or false
A disadvantage of virtual banks (clicks) is that
A) their hours are more limited than physical banks. B) they are less convenient than physical banks. C) they are more costly to operate than physical banks. D) customers worry about the security of on-line transactions.
The voting paradox suggests that the "voting market," as represented by elections
A) leads to a superior outcome in representing consumer preferences compared to the private market for goods and services. B) is no different from the private market for goods and services in terms of representing consumer preferences. C) may not lead to an efficient outcome but certainly leads to a more equitable outcome in terms of distributing goods and services. D) may often lead to an inefficient outcome in representing consumer preferences compared to the private market for goods and services.