Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the marginal propensity to consume?

Which of the following correctly comments on the following statement? "The only way to increase the revenue from selling a product is to increase the product's price."

A) This statement is not true. Revenue will increase as the price of the product increases only if demand is inelastic. B) It is not true. Revenue will increase as the price of the product increases only if demand is elastic. C) This statement is not true. Revenue will decrease as the price of the product increases because quantity demanded will fall. D) The statement is true.

If both labor demand and labor supply fall, what will happen to the real wage, employment, and output?

a. The real wage will increase, real output will increase, but the effect on employment depends upon the magnitudes of the shifts. b. The real wage will increase, but the effects of employment and real output depend upon the magnitudes of the shifts. c. The real wage, employment, and real output will all decrease. d. Employment and real output will decrease, but the effect on the real wage depends upon the magnitudes of the shifts. e. The real wage, employment, and real output will all increase.