According to the above figure, the average propensity to save (APS) is zero at point
A. D.
B. J.
C. I.
D. F.
Answer: D
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Gruel is an inferior good. Hence, a decrease in people's incomes
A) shifts the supply curve of gruel leftward. B) decreases the quantity of gruel supplied. C) shifts the demand curve for gruel rightward. D) shifts the demand curve for gruel leftward.
Competing-interest legislation involves
a. concentrated costs and widespread benefits b. both widespread costs and widespread benefits c. both concentrated costs and concentrated benefits d. widespread costs and concentrated benefits e. concentrated costs and either widespread or concentrated benefits
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and reserve-related (central bank) transactions remain the same. b. The GDP Price Index and reserve-related (central bank) transactions remain the same. c. The GDP Price Index falls, and reserve-related (central bank) transactions become more negative (or less positive). d. There is not enough information to determine what happens to these two macroeconomic variables. e. The GDP Price Index rises, and reserve-related (central bank) transactions remain the same.
Which market structure(s) is(are) imperfectly competitive?