The government has a monopoly on legitimate force
a. True b. False
a
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If the marginal propensity to consume is 0.75, then the value of the tax multiplier is
A) -2.5. B) -3. C) 1.25. D) 1.4.
The income effect of an increase in the interest rate will result in an increase in consumption when a. young and an increase in savings when young. b. old and an increase in savings when young
c. young and a decrease in savings when young. d. old and an increase in savings when old.
Macroeconomic always deals with ______ economy.
a. aggregate b. international c. personal d. government
Below, the graph on the left shows the short-run cost curves for a firm in a perfectly competitive market, and the graph on the right shows the current market conditions in this industry. What is the maximum amount of profit the firm can earn?
A. $150 B. $80 C. $50 D. $40