If you know the average propensity to consume you can determine the average propensity to save. How is that possible?
What will be an ideal response?
The average propensities sum to 1 (APC + APS = 1). Thus, if you know the value of one average propensity (e.g., APC), you can always figure out the other average propensity (e.g., 1 ? APC = APS).
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The notion that regulated industry members themselves, sooner or later, are able to control regulatory bodies is referred to as
A) consumerism. B) cartelization. C) the capture theory. D) the control theory.
For an economy as a whole, net exports must equal minus one times net capital outflow
a. True b. False Indicate whether the statement is true or false
Very recently, the debt-to-GDP ratio has been:
A. higher than usual. B. lower than usual. C. stabilized. D. volatile.
Answer the following questions true (T) or false (F)
1. The slope of the production possibilities curve is called the marginal rate of technical substitution. 2. The slope of an isoquant is called the marginal rate of product transformation. 3. The shape of the long run average cost curve is typically U-shaped in practice.