The average propensity to save (APS) is the proportion of disposable income that is saved

The output of MP3 players should be:

A. reduced if marginal benefits exceed marginal costs. B. reduced if marginal costs exceed marginal benefits. C. increased if marginal costs exceed marginal benefits. D. reduced to zero if their unit costs exceed the unit costs of alternative products.

The Federal Reserve System was established by Congress in 1914

A. as a result of a breakthrough in economic theory. B. against significant opposition from the banking sector. C. because of the need for a central bank. D. as the world’s first central bank.