The primary determinant of the level of consumption and saving in the economy is the:
a. Level of income
b. Interest rate
c. Level of prices
d. Level of investment
a. Level of income
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How does the demand curve facing a monopoly firm compare with the demand curve facing a perfectly competitive firm?
What will be an ideal response?
The demand curve for capital is
a. its entire marginal physical product curve. b. the downward-sloping portion of its marginal physical product curve. c. its entire marginal revenue product curve. d. the downward-sloping portion of its marginal revenue product curve.
If a supplier sells 40 light bulbs and the total revenue from this sale is $120, then what is the average revenue?
a. $3 b. $80 c. $160 d. $4,800
Coordination failures can exist in both capitalist and socialist economies.
Answer the following statement true (T) or false (F)