The simple graph that depicts intended investment as a horizontal straight line (investment measured on the vertical axis and national income measured on the horizontal axis) implies that intended investment is
a. income dependent
b. equal to autonomous consumption
c. autonomous
d. induced
e. equal to saving
C
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Refer to Figure 6-7. Using the total revenue test to verify the price elasticity between points a and b on the demand curve, demand is
A) perfectly inelastic. B) perfectly elastic. C) elastic. D) unit-elastic.
The more complicated the task, the greater the ability to economize on transaction costs through specialization and centralized control
Indicate whether the statement is true or false
The national debt
A) is the difference between total government revenues and government expenditures. B) is the sum of all past federal deficits plus any surpluses. C) is the sum of all past federal deficits less any surpluses. D) grows when government spending increases.
People who bought candles on the street at midnight during the great Blackout of 2003 ___________ (did/did not) get ripped off.
Fill in the blank(s) with the appropriate word(s).