The consumption schedule shows the relationship of household consumption to the level of
A. the marginal propensity to consume.
B. investment.
C. disposable income.
D. saving.
Answer: C
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Joseph Schumpeter's explanation of why economies experience business cycles focuses on
a. the climatic cycles caused by movements in the solar system b. the impact of war activity on the economy c. housing construction d. the clustering of innovations e. the interaction of the multiplier and the accelerator
The Dango describes
A. covert collusion in the Japanese construction industry. B. a Korean business arrangement whereby only firms with insider connections may enter an industry. C. a bribe paid by colluding business firms to get government contracts in Asia. D. the price set by the price leader in Eastern European oligopolies.
Refer to Table 9-6. What is the value of $A in stage 1?
A) $100 B) $200 C) $600 D) $800
Under a progressive income tax, the average tax rate
A. decreases as income increases. B. remains constant at all levels of income. C. increases as income increases. D. initially decreases, then increases, as income increases.