According to Milton Friedman, a person's MPC will change as their actual income changes
Indicate whether the statement is true or false
F
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If the economy in the graph shown is at point D, and the government wished to bring the economy back to its long-run equilibrium, it might:
A. increase government spending.
B. decrease income taxes.
C. increase corporate income taxes.
D. All of these would bring the economy back to potential GDP.
Which of the following might be an effect of advertising?
a. all of the following b. increased product differentiation c. increased total costs of production d. increased average total costs of production e. increased demand for the product
There is resistance to exchange rate fluctuations because changes in the value of a currency are likely to cause all of the following except
A. Uncertainty for people who invest in world markets. B. A change in the price of imports. C. A change in the price of exports. D. The return to a worldwide gold standard.
Two goods are substitutes if:
A) an increase in the price of one leads to a shift to the left in the demand curve for the other. B) an increase in the price of one leads to an increase in demand for the other. C) an increase in the price of one will increase the supply of the other. D) a fall in the price of one leads to a reduction in supply for the other.