Which of the following is not another way of describing the marginal propensity to consume?
a. MPC
b. The slope of the consumption function
c. The change in real consumption spending divided by the change in real disposable income
d. The amount by which real consumption spending rises when real disposable income increases by one dollar
e. Autonomous consumption spending
E
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Comment on the following statement: "If one player in the game does not have a dominant strategy, it is impossible to predict the outcome of the game."
What will be an ideal response?
Prior to World War I, the U.S. government's attitude towards labor unions was one of
A) indifference. B) support. C) hostility. D) support, except when it came to unions of public employees.
Aluminum cannot be produced without bauxite. Hence, the price elasticity of demand for bauxite by aluminum manufacturers will be
A) perfectly elastic. B) elastic. C) inelastic. D) unitary elastic.
Usury laws tend to hurt whom?
a. suppliers of loans b. consumers who cannot get credit c. bank stockholders d. All of the above are correct.