If the marginal propensity to consume (MPC) is 0.75, and if policy makers wish to increase real GDP by $300 million, then by how much would they have to change taxes?

The contributive standard (merit standard) for distributing income implies that

A) income should be distributed equally. B) income should be distributed according to need. C) income should be distributed according to the marginal productivity of workers. D) a transfer should be contributed to an individual above his or her contribution to net output.

If butter is a substitute for margarine, then an increase in the price of butter would be most likely to cause:

a. a rightward shift of demand for margarine. b. a leftward shift of demand for margarine. c. the quantity demanded for margarine to increase. d. the quantity demanded for margarine to decline. e. a decline in the price of margarine.