Which of the following statements concerning the effects of demographics on consumption is not true?
a. The size of the population affects the slope of the consumption function.
b. The age of the population affects the slope of the consumption function.
c. Other things equal, the level of consumption will rise with increases in population.
d. Younger households tend to have higher MPCs than older households.
e. Older households tend to have higher MPSs than younger households.
a
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The use of pollution permits by the government to reduce pollution is:
A. common in several parts of the United States. B. theoretically interesting, but untried in the United States. C. common in the third world. D. workable in theory but unworkable in practice.
What are the steps involved in optimization in levels? If option A has a cost of $5 and provides a benefit of $8, and option B has a cost of $10 and provides a benefit of $15, which of the two projects is optimal?
What will be an ideal response?
One of the problems created by price floors set above the equilibrium is:
a. consumers complain about high prices. b. firms don't have incentives to reduce costs. c. the creation of surplus. d. how to cope with the shortages. e. the impact on firm profitability.
Which of the following is the best example of a disruptive market change related to international trade?
a. a domestic manufacturer opens a new state-of-the-art facility in the home country b. an international manufacturer opens a new state-of-the-art facility in the home country c. an international manufacturer develops a completely robotic manufacturing process d. a domestic manufacturer replaces one international supplier with another international supplier