A family on a trip budgets $800 for sit-down restaurant meals and fast food. The family can buy 16 restaurant meals if they don't buy any fast food. What is the price of a restaurant meal for the family?

Why are economists sometimes skeptical about international labor standards?

a. They are difficult to enforce. b. They create more competition for U.S. workers. c. GATT does not allow labor standards. d. They may be used as a rationale to protect domestic activities that can no longer compete with imports.

If the MPC changed from 0.8 to 0.6, then the spending multiplier would change from a. 5 to 2.5

b. 2.5 to 5. c. 0.8 to 0.6. d. 8 to 6.