The U.S. economy is experiencing falling output, falling employment, falling incomes and rising unemployment. These conditions best describe a business cycle

Refer to Figure 5-3. The efficient price of medical services is

A) $40. B) $55. C) $65. D) > $65.

The marginal propensity to consume is the portion of income that a household saves after taxes.

Answer the following statement true (T) or false (F)