If the marginal propensity to consume is 0.6, what is the value of the expenditure multiplier?
a. 1.0
b. 1.6
c. 2.0
d. 2.5
e. 6.0
D
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The HO model rules out the classical model's basis for trade by assuming that ________ is (are) identical between countries
A) factor endowments B) factor intensities C) technology D) opportunity costs
The message that market economies efficiently generate information through markets is associated with:
a. Mises and Hayek b. Samuelson c. Kornai d. Olson e. Keynes
Firm A has a higher marginal cost than firm B. They compete in a homogeneous product Cournot duopoly. Which of the following results will NOT occur?
A. Revenue of firm A < Revenue of firm B B. PriceA < PriceB C. QA < QB D. ProfitA < ProfitB
The central bank of the United States is:
A. Bank of America. B. the Federal Reserve System. C. Bank of the United States. D. the U.S. Treasury.