The greater is the marginal propensity to consume, the:
A. smaller is the marginal propensity to save.
B. higher is the interest rate.
C. smaller is the average propensity to consume.
D. lower is the price level.
A. smaller is the marginal propensity to save.
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Either a price floor or a price ceiling above the equilibrium price would cause a surplus
a. True b. False Indicate whether the statement is true or false
Figure 32-1
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In Figure 32-1, there are four levels of income. G is government expenditures and TT is taxes less transfers. At which level of income is the actual deficit the greatest?
A. Y4 B. Y3 C. Y2 D. Y1
Indifference curves on the same indifference map can have different shapes
Indicate whether the statement is true or false
The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets.
Answer the following statement true (T) or false (F)