If the multiplier = 2.5, the MPC would be
A) 0.25. B) 0.4. C) 0.6. D) 0.75.
C
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Where the consumption function intersects the 45-degree line
A) consumption will equal only autonomous consumption. B) the average propensity to consume is 0.5. C) savings will be negative. D) saving will be zero.
A great deal of damage is done to the environment in the urban U.S. because
A) a system based on private property cannot provide for a common environment. B) few people understand the economics of pollution. C) many and perhaps most people assign little or no value to a pleasant environment. D) the environment is treated as everyone's property and therefore as no one's property. E) the United States has no central planning.
What is the difference between product markets and factor markets?
What will be an ideal response?
How are the labor force and the unemployment rate calculated?
What will be an ideal response?