Refer to the scenario above. Rebecca should place a bid of ________
A) $40,500
B) $45,000
C) $50,000
D) $55,000
A
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The marginal propensity to consume (MPC) is computed as the change in consumption divided by the change in:
a. GDP. b. disposable personal income. c. saving. d. none of these.
Which is the most accurate statement about the Personal Responsibility and Work Opportunity Act of 1996?
A. The decline in the welfare rolls since the mid-to-late 1990s was due entirely to this law. B. This law was directly responsible for throwing millions of the poor out on the street. C. The law validated President Clinton's promise "to put an end to welfare as we know it." D. The law had very little success in removing people from the welfare rolls.
If consumer incomes go up and you are analyzing the market for Harley Davidson motorcycles, the effect on the demand for motorcycles, ceteris paribus, will be
a. an upward movement along the demand curve for motorcycles. b. a downward movement along the demand curve for motorcycles. c. a rightward shift in the demand curve for motorcycles. d. a leftward shift in the demand curve for motorcycles.
If there is a political business cycle and the Federal Reserve supports the incumbent, then we should expect that prior to elections
a. interest rates and output would rise.
b. interest rates would rise and output would fall.
c. interest rates would fall and output would rise.
d. interest rates and output would fall.