If spending increased by $100, and the GDP increased $400 as a result, the MPC must be:
A. 0.70
B. 0.75
C. 4
D. 2
B. 0.75
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In the United States, the typical woman earns about ________ of what the typical man earns
A) 90% B) 80% C) 70% D) 50%
What is meant by the term "long-run competitive equilibrium?
What will be an ideal response?
Output in the goods and services market will be sustained into the future
a. if aggregate demand and short-run aggregate supply are in balance. b. only when the prior choices of decision makers were based on a correct anticipation of prices. c. only when prices are rising. d. only when wage rates are declining.
What can a decision-making grid do?
a) tell you the right course of action b) show you every possible consequences of your decision c) help you determine some of the opportunity costs for your decision d) show you every possible benefit of your decisions