According to this Application, home equity is the single largest component of net wealth for most families in the United States. As home equity falls
A) autonomous consumption will decrease, shifting the consumption function downward.
B) the MPC will decrease, increasing the slope of the consumption function.
C) autonomous consumption will decrease, shifting the consumption function upward.
D) the MPC will decrease, decreasing the slope of the consumption function.
A
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Which of the following is the study of “what is” rather than “what ought to be”?
a. normative economics b. subjective economics c. positive economics d. the theory of the origin of humanity
In a linear regression equation of the form Y = a + bX, the slope parameter b shows
A. ?X / ?Y. B. ?X / ?b. C. ?Y / ?b. D. ?Y/ ?X. E. none of the above
Which of the following examples would most likely happen if the federal government raised minimum wage from $7.25 to $12.00?
a. A bottling plant would double its hiring of low-skilled workers. b. A low-skilled worker in an automobile factory would be replaced by a robot. c. A low-skilled worker in a shipyard would receive a significant raise. d. A steel mill would offer educational opportunities for low-skilled workers.
The relationship between the wage and the quantity of labor that a given worker is willing to provide is called:
A. individual labor demand. B. market labor demand. C. individual labor supply. D. market labor supply.