All else equal, when oil prices decrease, people are ________ to look for oil substitutes. This will ________ the number of years it will take to deplete the stock of oil

Refer to Figure 2-15. In the circular flow diagram, market K represents

A) product markets. B) households. C) firms. D) factor markets.

The MPC indicates the fraction of

A. An additional dollar of disposable income that will be spent. B. An additional dollar of disposable income that will be saved. C. Total income that will be saved. D. Total income that will be spent.