All of the following concepts are related EXCEPT
A. Competition.
B. Government planning and regulation.
C. The invisible hand.
D. The price mechanism.
B. Government planning and regulation.
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Suppose lower interest rates suddenly lead to an injection of $325 additional investment spending into the economy and the marginal propensity to consume is 0.80.Table 10.1Spending CyclesChange in this Cycle's Spending and IncomeCumulative Increase in Spending and IncomeFirst-cycle spending$325$325Second-cycle spending________________Third-cycle spending________________In Table 10.1, what is the change in the third cycle of spending resulting from the higher initial investment?
A. $585. B. $208. C. $325. D. $50.
What is one reason for the high interest rates for home loans offered to those with low credit ratings?
A) Predatory lending practices B) Those with lower credit ratings faced a restricted supply of loans, ceteris paribus. C) Those with lower credit ratings typically demand greater loans, ceteris paribus. D) Government regulation
The excess burden of an excise tax is
A. greater the more inelastic the supply curve. B. greater the more elastic the demand curve. C. smaller the more elastic the supply curve. D. greater the more inelastic the demand curve.
Ecuador's GDP per capita in 2017, based on market exchange rates, was $5,600. In that same year, Ecuador's GDP per capita based on purchasing power parity was $11,100. The difference between these two measures of GDP per capita is most likely explained by:
A. credentialism. B. Ecuador's limited capital account convertibility. C. Ecuador's dual economy. D. differences in relative prices between Ecuador and other countries.