Refer to the information provided in Table 24.5 below to answer the question(s) that follow.Table 24.5All Numbers are in $ Million
Refer to Table 24.5. Assuming constant MPC, at income of $1,200 million, saving is $________ million, at income of $1,600 million, saving is $________ million.
A. 160; 240
B. 170; 250
C. 150; 230
D. 180; 260
Answer: A
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Which of the following statements best explains how the use of money in an economy increases economic efficiency?
A) Money increases economic efficiency because it is costless to produce. B) Money increases economic efficiency because it discourages specialization. C) Money increases economic efficiency because it decreases transactions costs. D) Money cannot have an effect on economic efficiency.
Consuming one more of a good increases its marginal-utility-to-price ratio, and consuming one less of the other good lowers its marginal-utility-to-price ratio
a. True b. False Indicate whether the statement is true or false
If the stock market continues a steady climb upwards, this ____ consumer confidence and wealth, leading to ____ consumption, and ____ aggregate demand
a. increases, decreased, increased b. decreases, decreased, decreased c. increases, increased, increased d. increases, increased, decreased
Your economics professor has announced that he or she will assign final grades as follows: the top 20 percent of students will get an A, the bottom 20 percent of students will get an F, and everyone else will get a C. This grading scheme generates a positional externality because:
A. each student's final grade depends on his or her relative standing. B. studying requires both time and effort. C. society as whole will be better off when people are educated. D. students will study hard no matter how the professor assigns final grades.