Based on data from the U.S. economy, the marginal propensity to consume is about

(Appendix) The winner in an auction bidding process will

A. get less value than was paid in the bidding. B. on average pay an amount equal to the product's true value. C. get more value than was paid in the bidding. D. win the bid if he takes the average of his best estimate of the starting bid and the items true value.

The study of how a particular firm might choose to maximize its profits would fall into what type of analysis?

A. aggregate economics B. macroeconomics C. political economics D. microeconomics