At the break-even point for the consumption function
A. the marginal propensity to consume equals l.
B. saving is positive.
C. saving is zero.
D. saving is negative.
Answer: C
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The General Agreement on Tariffs and Trade is an international agreement
A) that outlaws all tariffs but permits quotas. B) to encourage world trade by lowering tariffs and other trade barriers. C) to encourage world trade by lending resources to developing countries. D) between the United States and Japan that has never been ratified, resulting in several trade wars with Japan.
Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what will be the effect in the egg market?
a. The quantity of eggs demanded will increase. b. Egg demand will decrease. c. Egg supply will increase. d. Egg supply will decrease.