Refer to Figure 18-7. The second lowest 20 percent of households
A) earn 12 percent of the society's total income. B) earn 16 percent of the society's total income.
C) earn 28 percent of the society's total income. D) earn 40 percent of the society's total income.
B
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In the short-run if TR < TC, a perfectly competitive firm will always shut down
a. True b. False Indicate whether the statement is true or false
Ceteris paribus, the longer the time period, the
A. Less elastic the demand for the good. B. More unitary elastic the demand for the good. C. More elastic the demand for the good. D. Smaller the income elasticity for the good.
An international financial crisis will likely occur when
A. the rate of money supply growth is not the same in all nations. B. newly-acquired political freedom in a country leads some interest groups to form a coalition limiting competition. C. many international investors look at the behavior of a few large investors to determine when funds should be withdrawn from a particular country. D. there is an increase in portfolio investment.
The smaller the MPS, the larger the multiplier.
Answer the following statement true (T) or false (F)