If, in an economy, a $200 billion increase in consumption spending creates $200 billion of new income in the first round of the multiplier process and $150 billion in the second round, the multiplier and the marginal propensity to consume will be, respectively:

The only way the standard of living of the average person in a country can increase is if ________ increases faster than ________

A) population; production B) population; income C) population; GDP per capita D) production; population

According to your textbook, profit is a payment to

a. capital in the resource market b. labor in the entrepreneurial market c. capital in the product market d. entrepreneurship in the product market e. entrepreneurship in the resource market