Suppose an increase in disposable income from $3 trillion to $3.2 trillion increases consumption from $2.5 trillion to $2.6 trillion. The marginal propensity to consume (MPC) is _____
Fill in the blank(s) with the appropriate word(s).
0.5
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Suppose a nation has a total population of 100,000,000. Out of that, 60% are in the labor force and 55,000,000 people are employed. What is the nation's unemployment rate?
A) 5.0% B) 8.3% C) 9.1% D) 10.9%
Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be represented as p = 5 - (1/2)q where p is price in $ per hour and q is hours per month
The firm faces a constant marginal cost of $1. Potential consumer surplus equals A) $4. B) $8. C) $16. D) $32.
The supply curve for land is perfectly elastic
a. True b. False Indicate whether the statement is true or false
Assume that both the corporate and noncorporate sectors are in long-run equilibrium before the imposition of a corporate profits tax. In the short run, the imposition of a corporate profits tax will ________ profits in the noncorporate sector, but ________ profits in the corporate sector.
A. decrease; increase B. increase; decrease C. not change; not change D. not change; decrease