If the marginal propensity to consume (MPC) is 0.80, the value of the spending multiplier is:

Jack F. Altrades's decision whether to purchase a good from a firm or hire resources directly in the market will

a. depend, in part, on his production skill but not on his contract negotiation skill b. depend, in part, on the opportunity cost of his time but not on his skill c. not depend on the cost of identifying, measuring, and pricing inputs d. not depend on the cost of negotiating contracts e. depend, in part, on both his skill and the opportunity cost of his time

A cartel is an agreement among firms to divide output of a product among members

a. True b. False Indicate whether the statement is true or false