Which of the following is not an example of rent-seeking behavior?
A) competition for subsidies
B) competition for the exclusive right to import a product
C) lobbying the government to impose tariffs on certain imported products
D) engaging in aggressive advertising that slams a competitor's product
D
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If national income increases by $75 million and consumption increases by $15 million, the marginal propensity to consume is
A) 5. B) 0.75. C) 0.20. D) 0.15.
When the output of an economy exceeds the economy's full-employment capacity,
a. aggregate supply will increase until the economy can produce the output at the existing price level. b. the actual rate of unemployment will be less than the natural rate. c. wage rates and resource prices will tend to fall. d. interest rates will decline and help direct the economy back to full employment.