If the MPC is 0.8, what change in investment spending is required to effect a total change in income by $60 billion?
A. $25 billion
B. $15 billion
C. $20 billion
D. $12 billion
Answer: D
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Collusion among oligopolistic firms
A. is common in world markets, but does not happen in the U.S. B. becomes easier during a recession when sales are falling. C. becomes more difficult if the firms all have different cost and demand curves. D. becomes more difficult if there were fewer firms in the group.
What is the term economists use to designate goods that are desirable but limited in supply?
a. economic goods b. tangible goods c. intangible goods d. precious goods
A carbon tax on fossil fuels is likely to cause the price of goods produced by firms that use fossil fuels to:
A. decrease. B. not change. C. increase. D. change, but in a way that cannot be determined.
Rent control makes consumers who can find a place to rent worse off.
Answer the following statement true (T) or false (F)