The personal saving rate is percentage of national income that is saved.
Answer the following statement true (T) or false (F)
False
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A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker decides to only make one transaction what is his profit/bid-ask margin
a. $8 b. $10 c. $12 d. $16
Antitrust law
a. protects consumers from fraud or similar harm b. helps define resource ownership c. is designed to enforce contracts d. helps prevent firms from limiting competition e. cannot be used to increase economic efficiency
For a profit-maximizing monopolistically competitive firm, price exceeds marginal cost in
a. the short run but not in the long run. b. the long run but not in the short run. c. both the short run and the long run. d. neither the short run nor the long run.
Refer to the table shown. If the average product is 8, the number of workers is:Number of workersMarginal product of workers1527384105116775839010?1
A. 2. B. 8. C. 6. D. 4.