The fraction, or percentage, of total income which is saved is called the:
a. Marginal propensity to save
b. Disposable income schedule
c. Saving schedule
d. Average propensity to save
d. Average propensity to save
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The world trading system combines negotiated agreements that promote trade liberalization called ________ with binding agreements called ________ that block tariff increases
A) fiscal policies; monetary policies B) truces; aggressions C) free trade; enforcement contracts D) levers; ratchets E) wheels; walls
In which of the following situations would a positive externality most likely be involved?
A. Shawn is sitting at home one day when she gets a telephone call, informing her that she has won $10,000 in a contest she entered three months ago. B. There are eight houses in the neighborhood where Rodney lives. Rodney likes nice-looking yards, and last week his neighbors began to beautify their yards. C. Willy needs eight hours of sleep each night to feel good. Last night he got eight hours of sleep. D. Patrick received an A on a biology exam. He is feeling better about his chances of getting admitted to medical school.
The precautionary demand for holding money is when people hold money:
a. instead of near money. b. to transact purchases they expect to make. c. as insurance against unexpected needs. d. to speculate in the stock market. e. to take advantage of changes in interest rates.
If the consumer price index was 96 in 2012, 100 in 2013, and 102 in 2014, then the base year must be
a. 2012. b. 2013. c. 2014. d. The base year cannot be determined from the given information.