The slope of the consumption function is equal to the marginal propensity to save (MPS)
a. True
b. False
Indicate whether the statement is true or false
False
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Voluntary restraint agreements:
A. are prohibited by NAFTA. B. hurt consumers in both the short run and the long run. C. hurt workers in both the short run and the long run. D. do not affect imports in both the short run and the long run.
If GDP rises:
A) income and production must both fall. B) income and production must both rise. C) income must rise, but production may rise or fall. D) none of the above.
When small firms in a concentrated industry merge, it will increase the Herfindahl-Hirshman Index but not change the four firm concentration ratio
a. True b. False Indicate whether the statement is true or false
If a consumer goes to the store and purchases a DVD player, the shopper is buying both a _____.
(A) Durable and intermediate good. (B) Nondurable and final good. (C) Durable and final good. (D) Nondurable and intermediate good.