When disposable income is 4000, APC is about
A. .55.
B. .66.
C. .77.
D. .88.
D. .88.
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Reserve requirements exist primarily to prevent bank failures
a. True b. False Indicate whether the statement is true or false
The world price of a good is determined by the
A. demand for that good in the world market. B. country that produces the good. C. supply of that good in the world market. D. worldwide demand and supply of that good.
The formula for an infinite sum is
A) 1 + b + b2 + b3 + b4 + ... = b / (1 - b). B) 1 + b + b2 + b3 + b4 + ... = 1 / (1 - b). C) 1 + b + b2 + b3 + b4 + ... = 1 / b. D) 1 + b + b2 + b3 + b4 + ... = 1 / (1 + b).
Which of the following is the best description of the effects of an increase in the supply of bread?
a. Consumers will pay more for bread. b. Bread prices will fall, and bread sales will rise. c. A permanent surplus of bread will remain on the market. d. Bakers will have higher marginal costs.