The size of the marginal propensity to save
What will be an ideal response?
is between 0 and 1.
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Probably the best measure of a country's economic growth is the growth of
A) real domestic investment. B) real GDP. C) real GDP per person. D) real consumption expenditures.
In the 1850s, the proportion of silver in the currency supply fell, and the proportion of gold rose. This is an illustration of :
a. the quantity theory of money. b. Gresham's law. c. Say's law. d. the Walrasian auctioneer. e. none of the above.
Refer to the labor market in Figure 33.5. Suppose that the government imposes a payroll tax on employers in this market. How much will the government collect in tax receipts for every worker hired?
A. $10 - $8 = $2 per hour. B. $10 - $7 = $3 per hour. C. $7 per hour. D. $8 - $7 = $1 per hour.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. lower; potential C. higher; potential D. lower; higher