Refer to the given data. At the $100 level of income, the average propensity to save is:
A. .10.
B. .20.
C. .25.
D. .90.
A. .10.
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In Keynesian analysis, if investment remains constant when income changes, the investment is called
A) discretionary. B) autonomous. C) planned. D) unplanned.
According to the graph shown, the amount of deadweight loss created by the imposition of a tariff is area:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. IL
B. JK
C. IJKL
D. FGJK
What happens to quantity supplied when the price is raised?
A. It rises B. It falls C. It stays the same D. It cannot be determined if it rises, falls, or stays the same
Assume that an economy has 9000 workers, each working 2000 hours per year. The average real output per worker-hour is $20. What will the total output or real GDP be? Explain
Please provide the best answer for the statement.