The rate of interest that equates saving and investment at full employment is called the
A) real rate.
B) nominal rate.
C) natural rate.
D) discount rate.
C
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In the short run, average variable costs are minimized when
A) MPL equals APL. B) APL is maximized. C) MPL is maximized and APL is increasing. D) Both A and B.
Retired persons travel by bus and automobile more frequently than do business executives, who more commonly use air travel. An economic explanation for this would be that
a. business executives have more time to travel. b. it is more important for retired persons to save time. c. business executives value their time more highly. d. retired persons have more money than do business executives.
The table below shows the daily production potential of two workers if they devote all their time to making either pizza or wings. Who has the absolute advantage at producing pizzas?
What will be an ideal response?
How much is saving?
C = $4.5 trillion Disposable income = $5 trillion Autonomous consumption = $3 trillion