consumption function
What will be an ideal response?
Consumption= autonomous consumption + MPC x disposable income
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The above table gives a country's government outlays and tax revenue for 2008 through 2012. During which years did the country have a balanced budget, budget surplus, and budget deficit?
What will be an ideal response?
If the price elasticity of demand for clothing is 0.64, this implies that
A) a 6.4 percent increase in price the price of clothing leads to a 10 percent decrease in the quantity demanded. B) a 10 percent increase in the price of clothing leads to a 6.4 percent decrease in the quantity demanded. C) if there is an increase in the price of clothing the total expenditures on clothing decreases. D) Both answers A and C are correct.
In the year 2008, nearly half of all privately held federal debt was held by foreign investors.
A. True B. False C. Uncertain
Involuntary exchanges, such as robbery,
a. represent potential Pareto improvements b. are positive externalities c. are not Pareto improvements d. are antitrust violations e. may be Pareto improvements