Suppose that after disposable income increases by $500 billion, consumption expenditures increase by $450 billion. Therefore, the marginal propensity to consume would be
a. 1.11
b. 9.00
c. 0.09
d. 0.90
e. 0.82
D
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All of the following are examples of anthropogenic pollutants EXCEPT
a. lead b. carbon monoxide c. pollen d. sulfur dioxide
The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year
When a $2 tariff is in place, U.S. production is equal to ________ batteries per year. A) 900,000; 700,000 B) 300,000; 100,000 C) 100,000; 500,000 D) 300,000; 500,000 E) 100,000; 300,000
A price taker is a buyer or a seller who:
A. takes the market price as given. B. buys or sells only at a price where profits can be made. C. accepts whatever price that the government legislates as the price of the good or service. D. has the ability to influence the equilibrium price in the market.
A firm that has the long-run cost curves shown in the graph below would be able to do or have the following, except:
A. Exploit economies of scale
B. Have an entry barrier protecting it from new entrants into the market
C. Serve an increasing share of the market at lower and lower unit costs
D. Attain lower unit costs by reducing its output level