The smaller is the marginal propensity to consume (MPC)
A. the smaller is the slope of the saving function.
B. the larger is the slope of the consumption function.
C. the smaller is the multiplier.
D. the larger is the multiplier.
Answer: C
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Refer to Scenario 5.1. The expected value of the undertaking,
A) according to Sarah, is $75,000. B) according to Sarah, is $100,000. C) according to Sarah, is $110,000. D) according to Aline, is $200,000. E) according to Aline, is $100,000.
Scarcity forces us to
a. limit our wants b. expand our resources c. produce more than we consume d. produce whatever we consume e. choose
If two restaurants sell many of the same food items but one offers a higher level of service, the service distinction is a form of _____.
(A) Local competition (B) Choice among substitute products (C) Nonprice competition (D) Price fixing
Since 1929, total government taxes as a percentage of GDP:
A. climbed from 10 percent to about 30 percent. B. remained close to 30 percent. C. climbed from 30 percent to about 50 percent. D. climbed from 15 percent to about 50 percent.