There are only two firms in an industry with demand curves q1 = 30 - P and q2 = 30 - P. Both have no fixed costs and each has a marginal cost of 10 per unit produced. If they behave as profit-maximizing price takers, each produces 20 units and sells them at a price of 10 so that each firm makes zero economic profits. If they formed a cartel and split the production of the output evenly, the

The life-cycle hypothesis predicts what consequence of aging of the overall population? [That is, an increase in T, relative to R & L.]

A) a decrease in the marginal propensity to consume out of wealth B) an increase in aggregate saving C) a decrease in the marginal propensity to consume out of income D) an increase in aggregate wealth

Transactions deposits include

A) credit cards. B) certificates of deposit. C) lines of credit. D) checkable and debitable accounts.