The total labor hours that all the firms in the economy plan to hire during a given time period at one particular real wage rate is the

When disposable income increases from $9 trillion to $10 trillion, consumption expenditure increases from $6 trillion to $6.8 trillion. The MPC is

A) 0.60. B) $6.8 trillion. C) 0.68. D) 1.00. E) 0.80.

If all countries specialize in producing goods for which they have a comparative advantage, then total world output will be lower

Indicate whether the statement is true or false