If consumption behavior can be described as C = 50 + .8Y, then the saving function is
A) S = 50 + .2Y.
B) S = -50 + .2Y.
C) S = -50 + .8Y.
D) S = 50 + .8Y.
B
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Federal and state governments in the United States pay for ________ of health care spending
A) less than 10 percent B) approximately 34 percent C) just over half D) more than 80 percent
The per-worker production function shows the relationship between ________ per hour worked and ________ per hour worked, holding ________ constant
A) capital; labor; real GDP B) capital; real GDP; technology C) labor; capital; real GDP D) labor; real GDP; technology
Refer to Scenario 5.5. The expected cost to the firm if it does not fix the car is
A) $0. B) $24 million. C) $7.9 million. D) $2 million. E) $3.6 million.
In an oligopoly, the price effect is:
A. the increase in price from lowering the quantity sold. B. the decrease in total revenue that occurs because the increase in quantity will push the market price down. C. the increase in total revenue due to the money brought in by the sale of additional units. D. the increase in output that comes from raising the price.