When disposable income increases from $9 trillion to $10 trillion, consumption expenditure increases from $6 trillion to $6.8 trillion. The MPC is
A) 0.60. B) $6.8 trillion. C) 0.68. D) 1.00. E) 0.80.
E
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The goods and services provided by hospitals, doctors, therapists, and pharmacies are collectively referred to as ________
Fill in the blank(s) with correct word
At Revolution Doughnuts in Fort Collins, Colorado, a cup of coffee or a doughnut is $1. Suppose Hannah loves going to Revolution Doughnuts. She spends $5 a day at the shop on 3 doughnuts and 2 cups of coffee. Is Hannah maximizing her total utility?
A) No. B) Maybe, but I need to know more about Hannah's income. C) Yes. D) Maybe, but I need to know more about Hannah's marginal utility per dollar for each of the two goods.
Which of the following will cause the date that the Social Security trust fund runs out of money to be pushed further into the future?
A) a decrease in the rate of real GDP growth B) an increase in the population growth rate C) a decrease in the growth of the real wage D) all of the above
An economic model should capture
A) the essential relationships that help to analyze the problem. B) all possible variables that apply to the problem. C) only social value related variables. D) all of the above.