Autarky is a situation in which a country
A) only exports products.
B) only imports products.
C) does not trade with other countries.
D) has no absolute advantage in any production.
Answer: C
Economics
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If the marginal propensity to consume is 0.60, the marginal propensity to save will be: a. greater than 0.60. b. equal to 0.40
c. equal to 0.60. d. equal to 0.
Economics
The opportunity wage is often a better measure of executive pay than
A. MPP because executives do not have an MPP. B. Derived demand because the elasticity of supply for an individual is greater than 1.0. C. MRP because of the difficulty in quantifying executive output. D. Opportunity costs of executive leisure.
Economics