The greatest expansion of the automobile industry occurred in the decade of the ______.
Fill in the blank(s) with the appropriate word(s).
1920s
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The average propensity to save (APS) is
A) the difference between the amounts of real disposable income consumed and saved. B) the percentage of additional real disposable income that will go toward real saving. C) the rate at which real savings changes over time. D) the percentage of real disposable income saved.
Rising velocity means that people want to hold ________ nominal money per dollar of nominal GDP, which ________ the inflationary tendency of an increase in the money supply as one way of re-equating the demand and supply of money
A) more, strengthens B) more, weakens C) less, strengthens D) less, weakens
Which of the following will occur if a natural monopoly is broken into two smaller firms?
A. The price will drop. B. Industry output will increase. C. Production costs will increase. D. Industry output will decrease.
In the 1980s, Howard was one of the best car phone repairmen in his area. After staying home in the 1990s and early 2000s to take care of his children, Howard wants to go back to work in the phone repair business. Which of the following can be said about Howard?
A. Because car phones are obsolete, Howard's human capital is less valuable. B. Howard's knowledge of how to repair car phones is obsolete, and his human capital is less valuable now than in 1980. C. Howard's ability to repair car phones represents an obsolete skill. D. All of these could be said about Howard.