The Keynesian consumption function does not display consumption smoothing, because ________
A) the average propensity to consume rises with income
B) the marginal propensity to consume is constant
C) consumption is not affected by the real interest rate
D) consumption is not affected by future income
D
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If you heard someone say that coal miners should be paid more wages to enable them to adequately support their families, that would be a statement of
a. positive economics. b. normative economics. c. radical economics. d. None of these.
Suppose only 7 percent of Turkey's products go to the United States. Hence, an increase in U.S. imports from Turkey:
a. would have no significant effect on Turkey's domestic income. b. would significantly increase Turkey's domestic income. c. would significantly decrease Turkey's domestic income. d. would significantly increase U.S. domestic income. e. would significantly decrease U.S. domestic income.
Consider the monopoly in the figure below with price regulated at $20 per unit. Consumer surplus at the regulated price is: 
A. $500. B. $2,300. C. $3,920. D. There is insufficient information to determine consumer surplus.
Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. What is the expected value of the game?
A. -$6 B. $0 C. $6 D. $30