Refer to the information provided in Figure 23.2 below to answer the question(s) that follow.
Figure 23.2Refer to Figure 23.2. Along the segment AB, Jerry's
A. consumption equals his income.
B. saving is negative.
C. saving is positive.
D. consumption is less than his income.
Answer: B
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In the long run, profits in a monopolistic competition market are zero because:
a. of government regulations. b. of collusion. c. firms are free to enter and exit the market. d. firms produce a differentiated product.
Under a flexible exchange rate system, which of the following will be most likely to cause an appreciation in the exchange rate of the dollar relative to the English pound?
a. an economic boom in England, inducing English consumers to buy more American-made automobiles, trucks, and computer products b. higher real interest rates in England c. inflation in the United States while prices are stable in England d. attractive investment opportunities in England, inducing U.S. investors to buy stock in English firms