The consumption function shows an indirect relationship between consumer spending and disposable income.
Answer the following statement true (T) or false (F)
False
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Net exports are negative when
A. imports exceed exports. B. depreciation exceeds exports. C. exports exceed imports. D. net exports exceed imports.
As a consumer consumes more and more of a product in a particular time period, eventually marginal utility
A) fluctuates. B) rises. C) is constant. D) declines.
A group of friends recently started manufacturing specialty T-shirts. The business has grown rapidly, with monthly production up from 50 to 250 in the first 6 months. During this same period, average production cost has been cut in half
The firm's long-run average cost curve over this range of output A) is downward sloping. B) is upward sloping. C) is horizontal. D) may be any of the above.
We can conclude that there has been inflation since the base year if the GDP price index in the current year is _____
a. 10 b. equal to zero c. 20 d. greater than 100 e. negative