Which of the following would lead you to predict an upward shift in the consumption function?
a. a decrease in the value of real wealth
b. a decrease in disposable income
c. an increase in the value of real wealth
d. an increase in the price level
c
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Which of the following is not true about a monopsonist?
a. It can set the wage rate and hire any desired number of workers at that wage. b. It is the only buyer of labor in a market. c. It usually extracts rents from its monopsony power. d. It determines the optimal employment-wage rate combination by equating the marginal revenue product of labor to the marginal cost of labor. e. It usually has to bargain with unionized workers.
Which of the following statements is correct?
a. Growth of productivity is the main determinant of growth in living standards. b. Common knowledge and proprietary technology are both important for the economy's production of goods and services. c. The terms capital and physical capital refer to the same thing. d. All of the above are correct.
Refer to the information provided in Figure 7.4 below to answer the question(s) that follow. 
Figure 7.4Refer to Figure 7.4. The total product of six workers is
A. 5. B. 50. C. 55. D. 60.
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. The equation for the aggregate consumption function is
A. C = 60 + 0.7Y. B. C = 140 + 0.5Y. C. C = 60 + 0.4Y. D. C = 80 + 0.6Y.