Speculators make their profits on
a. price differences in different time periods.
b. price increases from inflation.
c. avoiding double taxation of income.
d. the difference in interest rates on stocks and bonds.
a
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Which of the following statements is true of a perfectly competitive market?
A) Innovation is less likely in a competitive market because of free entry and exit of firms. B) Innovation is likely in a competitive market because of free entry and exit of firms. C) The firms in a competitive market invest more in R&D because they face an inelastic demand curve. D) The firms in a competitive market invest more in R&D because their demand for resources is perfectly elastic.
If the marginal propensity to consume is 0.75, the marginal propensity to save is
A) 0.25. B) 0.5. C) 1. D) 3.