C = a + bY is a form of the consumption function where a is
a. the consumption function, b is the marginal propensity to consume, and Y is national income
b. the marginal propensity to consume, b is the consumption function, and Y is national income
c. the marginal propensity to consume, b is autonomous consumption spending, and Y is national income
d. autonomous consumption spending, b is the marginal propensity to consume, and Y is national income
e. autonomous consumption spending, b is the consumption function, and Y is consumption spending
D
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The "depreciation rate" tells us
A) the interest rate that should be used in present discounted value calculations. B) the rate at which consumers deplete their total wealth in retirement. C) the difference between current and expected income. D) the difference between current and expected profits. E) how much usefulness a machine loses from year to year.
A non-rival good is a good which:
a. is produced by a monopoly. b. is produced by a cartel. c. can provide benefits to additional users at a zero marginal cost. d. is sold in a single market.