If the consumption function is defined as C = 5,500 + 0.9Y, what is the value of the multiplier?
A) 0.l
B) 0.9
C) 6.1
D) 10
Correct answer is D) 10
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Each of the following would cause an increase in the supply of baseballs EXCEPT
A) an improvement in technology. B) a decrease in the cost of labor used to produce baseballs. C) an expectation that the price of baseballs will rise in the future. D) an increase in the number of baseball producers.
Ceteris paribus, if the dollar appreciated in relation to a foreign currency, would the U.S. sell more goods or fewer goods to consumers in that foreign country? Why?
Which of the following allows you to provide information about the relationship between two variables?
a. coordinate system. b. pie chart c. bar graph d. time-series graph
Which of the following would shift a market labor supply curve to the left?
a. an increase in the wage paid to workers in a competing market b. labor-saving technology c. a change in worker tastes so that workers want to retire later d. an increase in immigration