Where marginal cost is less than average cost,
A. opportunity cost must have been excluded from the calculation of marginal cost.
B. marginal cost must be falling.
C. marginal cost must be rising.
D. marginal cost may be rising, falling, or constant.
Answer: D
Economics
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If the marginal propensity to save is 0.40, a $20 billion increase in investment spending would cause equilibrium output to:
a. increase by $50. b. increase by $80. c. decrease by $33. d. decrease by $40. e. decrease by $20.
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A tax on imported goods is called a(n)
a. excise tax. b. tariff. c. import quota. d. None of the above is correct.
Economics