If the marginal propensity to consume was 0.75, it would mean that:
A. $0.25 of an additional $1 of individuals' after-tax income is spent on consumption.
B. $0.75 of an additional $1 of individuals' after-tax income is spent on consumption.
C. $0.75 of an additional $1 of individuals' after-tax income is saved.
D. None of these is true.
Answer: B
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A) Asset prices rise. B) Mortgage defaults fall. C) Labor supply falls. D) Layoffs rise.
When protection is encouraged to protect a growing domestic industry; which of the following is being used?
A) Anti-dumping argument B) Save domestic jobs argument C) National security argument D) Infant-industry argument E) Diversity and stability argument
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a. The market price would remain unchanged; the market quantity would rise. b. The market price would rise; the market quantity would fall. c. The market price would remain unchanged; the market quantity would fall. d. Both the market price and the market quantity would fall. e. Both the market price and the market quantity would rise.
The airline pilots' union and the National Education Association are examples of ______ unions.
Fill in the blank(s) with the appropriate word(s).